Covid-19 travel insurance becoming a vacation staple

Covid-19 insurance policies are increasingly joining passports and sunscreen as vacation staples, creating opportunities for insurers as more countries require mandatory coverage in case visitors fall ill from the coronavirus.

2021-03-07 07:52:00 PM

Covid-19 insurance policies are increasingly joining passports and sunscreen as vacation staples, creating opportunities for insurers as more countries require mandatory coverage in case visitors fall ill from the coronavirus.

Covid-19 insurance policies are increasingly joining passports and sunscreen as vacation staples, creating opportunities for insurers as more countries require mandatory coverage in case visitors fall ill from the coronavirus.

But a surge in demand for Covid-19 coverage also means insurers could be on the hook for big payouts should another wave of infections lead to large numbers of cancellations or tourists getting sick.“Travel insurance and protection services are taking off at pace with travel as it resumes, said Dan Richards, CEO for travel risk and crisis management firm Global Rescue.

I'm prepared to go to prison: Zuma Zuma affidavit deadline approaches Mozambique unrest: Survivor asks for help

Covid-19 insurance benefits typically cover treatment up to $100,000, and could include coronavirus testing costs and services like evacuation or local burial or cremation. These benefits, introduced by insurers in mid-2020, are sold either as add-ons or as separate policies with coverage for illness or quarantine.

Jeremy Murchland, president of Indiana-based travel insurance company Seven Corners, said travellers are now “more likely to insure their trips”, as more countries require Covid-19 coverage.A travel insurance plan that includes trip protection, medical expense coverage for Covid-19 and protection for baggage and personal effects typically costs 4% to 8% of the dollar value of the trip, Murchland said. headtopics.com

While the pandemic has battered travel, demand for coverage has created opportunity for the hard-hit insurance industry and a niche to develop new products, companies said.For example in June, Seven Corners introduced an optional medical travel plan with coverage for coronavirus expenses, Murchland said. By year's end, the product with coronavirus coverage generated about 80% of total medical travel plan sales.

Seven Corners also saw a 20% rise in travellers buying highly priced “cancel for any reason” policies in 2020. The policies cover cancellation costs related to the virus. Read more: Times LIVE »

Join our Cloud HD Video Meeting

Zoom is the leader in modern enterprise video communications, with an easy, reliable cloud platform for video and audio conferencing, chat, and webinars across mobile, desktop, and room systems. Zoom Rooms is the original software-based conference room solution used around the world in board, conference, huddle, and training rooms, as well as executive offices and classrooms. Founded in 2011, Zoom helps businesses and organizations bring their teams together in a frictionless environment to get more done. Zoom is a publicly traded company headquartered in San Jose, CA.

I’m back with smile on my face again thanks to tatiana_alek I don’t know what to say I was skeptical but I am proud to let the world know that you’re the reason behind my successful trades life!!🙏🙏🙏🙏 God bless you for your good works I was worried when I wanted to invest but, I thank God I have invested with the right account manager Ericwalker01 I got my my money back with profits just as he said, I want everyone who See's this to start investing with Ericwalker01 now

Couple of months ago I came across a recommendation about DennisWilliam56 wealth how he helped investors to earn lots of money with their investments. and I decided to give a trial with the little I have. Now my little has turned into something great which was not my expectation laramost8 Behind every successful person there is a helper Davidjackson557 is the person behind my success story and the great achievement of my goals Davidjackson557 thanks for restoring hope once again