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Economic situation in Greece: What to do if you’re affected

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News reports and information released concerning the current financial situation in Greece have led to our customers checking to see what cover they have with regard to cash.

The advice being issued is to increase the amount of cash funds taken in the event that ATMs and banks cannot be used to withdraw money during a trip.

Our advice will always be not to carry large amounts of cash on your person at any one time, but we appreciate that the current advice being issued by other sources to those travelling to Greece is quite the opposite. Therefore, whilst we will always urge you to take extra care of your personal belongings and cash, we are trebling our current cash limits on our policies for those already in Greece and those travelling to Greece. Also, if you need to pay for your accommodation (room only) in cash, this will be covered in addition to the above cash limit increase. We will review this situation as it evolves or by the 30th September (whichever is later).

Customers should refer to their policy wording booklet for the cash limit applicable to the insurance purchased with us to see how this temporary change of terms will affect them when travelling to Greece.

To ensure the safety and the security of our customers and their funds, we offer the following advice:

  1. Make sure when travelling out to Greece, if taking more funds than normal, split this on your person so that if the worst should happen not all funds will be gone
  2. Take extra care on arrival in Greece, at the airport and when travelling to your accommodation, as this will be when you have the most cash on your person and this, therefore, poses the highest risk of loss or theft
  3. Use a safety deposit box at the accommodation where you staying to secure the money taken with you. If one is not available, hide funds out of sight in a few different places in your locked accommodation
  4. Report any loss of theft of cash to the police immediately (within 24 hours) and obtain a full written police report. If you cannot report this to the police, ensure this is reported to another authority, such as hotel management if the loss or theft occurs where you are staying
  5. When going out during the trip do not take large amounts of cash with you. Just make sure that you have enough money to cater for what you are doing that day
  6. Budget your money to allow for emergency funds should the worst happen and you either cannot withdraw cash whilst there or you suffer a loss or theft

Please note that if you do need to claim, these will be subject to the terms and conditions of your policy, so make sure you familiarise yourself with this before travelling.