Originally Posted by GUWonder
Putting aside the issue of artificial segmentation of victims -- a segmentation that values certain human life more than others -- if the risk is so much higher in Egypt for foreign citizens, then wouldn't most foreign individuals in Egypt purchasing most types of insurance coverage pay a sizeable premium -- and an increasing one at that -- compared to other countries in the same general socio-economic range? Why is that not the general case for foreign individuals in the market for insurance? Because of SOEs in the market? Because of regulatory regime? Because of lower risk? Because of both lower risk and SOEs/regulatory regime? Or because of something entirely different?
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The issue of insurance raises good points and here's what I have found about risk premiums over the last few years, both with personal and business (key man). Travel to certain countries, including Egypt, India, Indonesia, and Israel trigger significant increases in your premiuim due to the increased risk in those countries to both tourists and business people by terror attacks as defined by the insurance industry. Europe does not trigger this problem, nor does China, Japan, and a host of other countries I typically travel to. I am sure there are other places that I don't travel to that do trigger the same rider. None of these increased costs are triggered by the increased risk you associate with vehicle accidents.