Overseas Travel Policy issued by following
Indian Insurance Companies is not to be honoured by Schengen (European Visa Authority) w.e.f.March 10, 2014
1- National Insurance
2- SBI General
3- ICICI Lombard
4- Bharti Axa General
5- L&T General Insurance
6- Religare Health Insurance
7- Raheja QBE.
This decision seems to have come because of various
reasons and some of these are
1- Claims not being
honoured
2- Policies floating in the market, which were not genuine policies or we can say were fake policies
3- Inability of Visa authorities to verify the genuineness of the policy by
accessing the data base of the Insurance Companies as software is not compatible.
We are reproducing the Circular of Visa Authority according to which list of
approved or acceptable Insurance Companies is:
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Schengen States Consular Posts Approved
List of Indian Travel Insurance Companies Providing Travel Medical Insurances
for Schengen Visa Procedure
Effective as of 10 March 2014
1) Apollo Munich for the age group
of 6 months to 70 years
2) Bajaj Allianz for the age group
of 6 months to 70 years
3) Chola MS for the age group of 0
month to 70 years
4) Future Generali for the age
group of 6 months to 70 years
5) HDFC Ergo for the age group of 3
months to 70 years
6) IFFCO Tokio for the age group of
3 months to 70 years
7) New India Assurance Company for
the age group of 0 month to 60 years
8) Reliance for the age group of 3
months to 70 years
9) Royal Sundaram for the age group
of 3 months to 70 years
10) Star Health and Allied
Insurance for the age group of 6 months to 70 years
11) Tata/AIG for the age group of 6
months to 55 years
12) Oriental Insurance Company for
the age group of 6 months to 60 years
13) United India Insurance Company
for the age group of 0 month to 65 years
14) Universal Sompo for the age
group of 0 month to 70 years
Consular Posts of Schengen States approved specific travel
medical insurance policy schemes for corporate travels of travel insurance
companies on this list with 70 years of age as upper limit of appropriate
coverage. However, acceptance of travel medical insurance policy schemes for
group travels (e.g. tour or incentive groups) with 70 years of age as upper
limit of appropriate coverage is conditioned on that Consular Posts of Schengen
States would be able to check the coverage of individual members of these
groups in the Travel Insurance Portals of Non-Life Insurers of the General
Insurance Council (online verification tool).
Visa applicants are advised to note that other travel medical
insurances issued by Indian insurance companies are not accepted for Schengen
visa procedure. However, visa applicants may seek to obtain insurance in any
other country where claims against the insurance company would be recoverable
in a Schengen State.
NOTE1
Visa applicants for a Schengen visa for one or two entries
shall prove that they are in possession of adequate and valid travel medical
insurance to cover any expenses which might arise in connection with
repatriation for medical reasons, urgent medical attention and/or emergency
hospital treatment or death, during their stay(s) on the territory of the
Schengen States. Visa applicants for a uniform visa for more than two entries
(multiple entries) shall prove that they are in possession of adequate and valid
travel medical insurance covering the period of their first intended visit. In
addition, such applicants shall sign the statement, set out in the application
form, declaring that they are aware of the need to be in possession of travel
medical insurance for subsequent stays. The insurance shall be valid throughout
the territory of the Schengen States and cover the entire period of the
person’s intended stay or transit. The minimum coverage shall be EUR 30 000.
Applicants shall, in principle, take out insurance in their country of
residence. Where this is not possible, they shall seek to obtain insurance in
any other country. When assessing whether the insurance cover is adequate,
consulates shall ascertain whether claims against the insurance company would
be recoverable in a Schengen State.
1This note makes reference to Article 15
of Regulation 810/2009 of the European Parliament and of the Council of 13 July
2009 establishing a Community Code on Visas.
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We are surprised to see age limit of 70 years. What will happen to those who are
above 70 years? This needs to be clarified. May be IRDA can come up with suitable action to save the image of those companies, who have been blacklisted.
We in Ria Insurance Brokers P Ltd will be
pleased to answer queries from you, who are planning to go in for Schengen Visa in the coming months. We are reachable on ria@surekhae.com
