Press Release: Students and graduates join forces to develop the Year Abroad Insurance they needed

Press Release: Students and graduates join forces to develop the Year Abroad Insurance they needed

This article was written by Global Graduates, published on 17th July 2011 and has been read 4033 times.

A new collaborative insurance product launches to provide cover for students living abroad during their degree course.YearAbroadInsurance.com, the result of over a year of research and collaboration between graduate-run year abroad information network ThirdYearAbroad.com, RMCI insurance brokers and leading insurer QBE, provides UK University students with full travel and emergency medical insurance cover to work, study or volunteer anywhere in the world for up to 18 months.
"Finding reliable insurance cover is one of the key problems for our users," says Lizzie Fane, Founder of ThirdYearAbroad.com, "which is why we approached QBE with the idea of creating a new product designed specifically for this market."

The year abroad is a compulsory part of a Modern Language degree course, during which students are required to work or study abroad to earn credits for their home university. The year abroad is increasingly introduced to students of other disciplines, from History of Art and Law to Engineering and Maths. The insurance required for a year abroad differs greatly from gap year cover as university students are adults, they go abroad with more belongings to fixed accommodation and a fixed daily routine, and the majority of students speak the local language. There are completely different risks involved.

Over the past academic year ThirdYearAbroad.com received reports that students were unhappy with their insurance for reasons based on unforeseen circumstances that were not covered by their policy.

The newly launched, competitively priced Year Abroad Insurance policy includes cover for tuition fees abroad, unlimited trips home, damage to rented accommodation, the travel and accommodation of two close relatives to remain with the student if they are hospitalised, search and rescue cover to reassure anxious parents, the option to automatically send a copy of the policy documents to a parent or guardian and financial security from QBE; one of the world’s leading international insurers and reinsurers.

The extensive policy duration offered enables students to go abroad early in search of accommodation and to use their long summer holidays before and after their year abroad as an opportunity to explore their destination before settling in, something that ThirdYearAbroad.com’s network of past, present and future year abroad students were keen to see included.

To find out more about the policy and its benefits, please visit: www.YearAbroadInsurance.com

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Note to the Editor

About RMCI and YearAbroadInsurance.com - Risk Management & Corporate Insurance Services Limited, RMCI, was formed in December 2000 as a privately owned general insurance broking company. RMCI offer innovative insurance solutions to both companies and private individuals. YearAbroadInsurance.com is a trading name of RMCI.

About ThirdYearAbroad.com - ThirdYearAbroad.com is a social network where university students can find and share information, help and advice about all aspects of their year abroad. Members can create an online guidebook to their destination city, get exclusive offers and discounts, and benefit from the experiences of previous year abroad students. The team behind ThirdYearAbroad.com participates in university year abroad fairs and pre-departure talks, actively promotes the study and 'saving' of Modern Languages at university and is working to solve the key problems for year abroad students, in particular: insurance, banking, accommodation and communication.

About QBE - QBE Insurance Group is Standard & Poor’s A+ rated and one of the world’s leading international insurers and reinsurers with operations in all the key insurance markets and over 14,000 staff worldwide. Listed on the Australian Securities Exchange, QBE is a lead underwriter in its chosen markets, setting rates and conditions. For the year ended 31 December 2010, QBE’s gross written premium was US$13.6 billion.

For further information about Third Year Abroad please contact: Lizzie Fane, Founder, Tel: 07775 783122 Email: lizzie at thirdyearabroad.com

Our insurance-related articles are in partnership with our friends over at YearAbroadInsurance.com!

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