Welcome!

News Feed Item

BMO Insurance Study: More Than Forty Per Cent of Canadians Are Less Likely to Travel This March Break Given Declining Loonie

- Of the seventy-two per cent of Canadians who do plan to travel, 61 per cent will travel within Canada

TORONTO, ONTARIO -- (Marketwired) -- 03/03/14 -- With March Break around the corner, BMO Insurance today released the results of a study where, with the recent drop in the Canadian dollar, almost half (42 per cent) of Canadians stated they are less likely to travel this spring. The loonie's decline against the U.S. Dollar and the Euro over the past 12 months alone has been more that 10 per cent. However, nearly three-quarters (72 per cent) still plan to do some travelling this spring, with 61 per cent of people travelling planning to do so within the country.

The study also found that close to half (44 per cent) of Canadians are worried about requiring medical attention while on spring break (as a result of getting sick or having an accident), underlying the importance of travelling with adequate medical travel insurance. Bad weather (55 per cent) and losing something of value (47 per cent) were also among the top concerns on the minds of Canadians as they begin their vacations.

"Going on vacation requires lots of planning, energy, time and money," said Julie Barker-Merz, Vice-President and Chief Operating Officer, BMO Insurance. "Canadians should make sure that their holiday is as stress free as possible. We can't control things like a declining dollar or bad weather, so it's important to get a handle on what travel worries you can control. First and foremost should be your health-it's critical that you make sure you have adequate travel medical insurance before hitting the road."

Ms. Barker-Merz noted that the costs of medical services abroad can be daunting, with a broken leg in the United States costing up to US$20,000, an air ambulance from Florida to Ontario costing up to US$15,000 and treatment for decompression sickness in Thailand costing up to US$40,000.

Protect Yourself by Purchasing Medical Travel Insurance

When asked how often they purchase medical travel insurance when travelling outside of Canada, 44 per cent of respondents stated that they purchase it 'all the time', up from 38 per cent in 2012.

When asked to say why they do not purchase medical travel insurance, the top reasons Canadians identified included:


--  They are already covered by their workplace healthcare plan (36 per
    cent)
--  They do not travel enough to make it worthwhile (26 per cent)
--  Medical travel insurance costs too much (25 per cent)

"BMO Insurance offers a wide range of affordable medical travel insurance plans to suit the needs of your vacation," said Ms. Barker-Merz. "It's important that you know what coverage you have, if any, before heading out on vacation. Purchasing medical travel insurance provides peace-of-mind and is a sure-fire way to help make your spring break a more relaxing vacation."

Regional Breakdown:


----------------------------------------------------------------------------
                                                                      % that
                  % that are                                        purchase
              less likely to                                  medical travel
               travel due to  % of travelers      % that are  insurance 'all
               the declining        that are   worried about  the time' when
                value of the     planning to       requiring      travelling
                    Canadian   travel inside         medical      outside of
Region                dollar          Canada       attention          Canada
----------------------------------------------------------------------------
National                  42              61              44              44
----------------------------------------------------------------------------
Atlantic                  44              75              49              35
----------------------------------------------------------------------------
Quebec                    35              64              44              52
----------------------------------------------------------------------------
Ontario                   43              54              50              40
----------------------------------------------------------------------------
Prairies                  48              59              30              54
----------------------------------------------------------------------------
Alberta                   44              60              42              43
----------------------------------------------------------------------------
B.C.                      49              65              37              46
----------------------------------------------------------------------------

The survey was conducted by Pollara between February 14th and February 19th, 2014 with an online sample of 1,002 Canadians. The margin of error for a probability sample of this size is +/- 3.1%, 19 times out of 20.

For more information on BMO Travel Insurance: www.bmo.com/home/personal/banking/insurance/travel.

Get the latest BMO press releases via Twitter by following @BMOmedia.

Contacts:
Media contacts:
Veronica Bart, Toronto
416-867-3996
[email protected]

Valerie Doucet, Montreal
514-877-8224
[email protected]

Laurie Grant, Vancouver
604-665-7596
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Let’s face it, embracing new storage technologies, capabilities and upgrading to new hardware often adds complexity and increases costs. In his session at 18th Cloud Expo, Seth Oxenhorn, Vice President of Business Development & Alliances at FalconStor, discussed how a truly heterogeneous software-defined storage approach can add value to legacy platforms and heterogeneous environments. The result reduces complexity, significantly lowers cost, and provides IT organizations with improved efficienc...
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discussed how businesses can gain an edge over competitors by empowering consumers to take control through IoT. He cited examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He also highlighted how IoT can revitalize and restore outdated business models, making them profitable ...
In his session at @DevOpsSummit at 19th Cloud Expo, Yoseph Reuveni, Director of Software Engineering at Jet.com, will discuss Jet.com's journey into containerizing Microsoft-based technologies like C# and F# into Docker. He will talk about lessons learned and challenges faced, the Mono framework tryout and how they deployed everything into Azure cloud. Yoseph Reuveni is a technology leader with unique experience developing and running high throughput (over 1M tps) distributed systems with extre...
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
We all know the latest numbers: Gartner, Inc. forecasts that 6.4 billion connected things will be in use worldwide in 2016, up 30 percent from last year, and will reach 20.8 billion by 2020. We're rapidly approaching a data production of 40 zettabytes a day – more than we can every physically store, and exabytes and yottabytes are just around the corner. For many that’s a good sign, as data has been proven to equal money – IF it’s ingested, integrated, and analyzed fast enough. Without real-ti...
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
As companies gain momentum, the need to maintain high quality products can outstrip their development team’s bandwidth for QA. Building out a large QA team (whether in-house or outsourced) can slow down development and significantly increases costs. This eBook takes QA profiles from 5 companies who successfully scaled up production without building a large QA team and includes: What to consider when choosing CI/CD tools How culture and communication can make or break implementation
Actian Corporation has announced the latest version of the Actian Vector in Hadoop (VectorH) database, generally available at the end of July. VectorH is based on the same query engine that powers Actian Vector, which recently doubled the TPC-H benchmark record for non-clustered systems at the 3000GB scale factor (see tpc.org/3323). The ability to easily ingest information from different data sources and rapidly develop queries to make better business decisions is becoming increasingly importan...