44% Increase in terrorism attacks in 2013 – Terrorism insurance is critical

It has recently been reported by the Global Terrorism Index 2014 report that deaths from terrorism rose by 61% from the previous year in 2013. There were nearly 10 thousand terrorist attacks in 2013, which is a 44% increase from 2012. Iraq is the country that is the most impacted by terrorist attacks thanks to al-Qaeda and the Islamic State (ISIL or ISIS). A report from the Institute for Economics and Peace remarked that 18 thousand people died from terrorism-related injuries in 2013. Syria and Iraq are fueling a dramatic increase in terrorism, but Boko Haram in Nigeria is also responsible for the global increase. Further destabilization in the Middle East will only increase the amount of terrorism in the world. Even Turkey and Mexico are experiencing higher rates of terrorism.

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Terrorism coverage has become a necessity for some expatriates

Silhouette of soldierIt is an unfortunate reality that living abroad today can be just as risky as ever. Recent events have shown that many parts of the world are becoming increasingly volatile.

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Venezuelan currency problems are impacting expat insurers

global_medicalThere has been a steep devaluation of the Venezuelan Bolivar in recent months. Official exchange rates defined by organizations like Dow Jones – that are used in the claims reimbursement process by many expatriate group insurance companies, no longer reflect market exchange rates. Continuing to do so could lead to reimbursing claims for amounts that are disproportionate to the actual market value of the expenses.

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Ebola Virus and Medical Evacuation for Expatriates

Ebola VirusThe World Health Organization recently declared the West African Ebola epidemic that has killed nearly 1,000 people an international public-health emergency. As the Ebola virus continues its march across Africa, international health insurance providers and their medical evacuation suppliers are continuing to monitor the precarious situation there. Some clients of TFG Global and Expat Financial which have employees in Africa are asking how their employees will be treated should they become infected with the deadly Ebola virus.

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Ebola Virus Outbreak is Reminder of the Importance of International Health Insurance

There have been reported outbreaks of the Ebola virus in Guinea, Sierra Leone, and Liberia. One infected person even died in Lagos, Nigeria after a plane trip from a nearby country. Ebola virus is a rare and deadly disease. The Ebola incubation period, from exposure to when signs or symptoms appear, usually ranges from 2 to 21 days. Early symptoms include sudden fever, chills, and muscle aches. Around the fifth day, a skin rash can occur. Nausea, vomiting, chest pain, sore throat, abdominal pain, and diarrhea may follow. It is vital that one seek treatment as soon as possible and take immediate steps not expose others to the illness. 

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Expat employers with few employees can obtain group expat coverage

One of the largest barriers to expatriate group insurance adoption for small organizations without a current plan is the simple belief that their company is “too small” for a benefit plan. Others think that a global mobility program for their small firm will cost too much.

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Global health insurance inflation continues unabated

Recent studies have shown that medical inflation trends continue to rise unabated for both individual and employee sponsored international health insurance plans. The average global annual inflation trend for medical costs may be 10% overall, but the percentage is higher in select countries such as the USA and Canada, where many expatriates are covered and may seek treatment. Companies such as Aetna Global and Cigna International often report medical inflation trends of 12 to 13%. This trend rate is also shared by many expat insurance providers.

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What to Consider When Moving Abroad

Moving abroad to work and life can be a huge decision for both you and your family. A move abroad involves a lot of advance preparation and planning-such as where to live, transport, where to educate your children, getting help, language training etc… It can all be quite daunting, especially if you have never worked abroad or are receiving little help from your employer.

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Updated Foreign Exchange Services

TFG Global has recently updated the foreign exchange page for expatriates and some local nationals. You can view the newly updated page at:

https://expatfinancial.com/foreign-exchange/

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Why Expat Health Insurance is Essential

Why Expat Health Insurance is Essential for Expatriates

At Expat Financial, we like to give expatriates the tools and information to personalize their requirement for expatriate health insurance. Easy access to superior healthcare is a necessity for anyone living or working abroad. As you may know, in the developing world and even in some developed countries, the local medical institutions can be inadequate, costly or unattainable depending. Everyone experiences sickness and accidents in their lifetime and superb expatriate health insurance coverage is a critical step in one’s recovery and also maintaining one’s health.

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