Travel Insurance Archives ~ Live Insurance News

AIG underscores travel insurance shortfalls in current ecosystem

April 20, 2018April 18, 2018 Logan B.

Travel insurance shortfalls - Hand - Airplane

The changing nature of the travel industry as a whole has caused coverage to fall short of what it should be. AIG recently released a report on the current travel insurance shortfalls as travelers leave their agents behind. The report was titled “Insuring Travellers in the Digital Age.” The current travel comparison trend is boosting convenience but is leaving travelers under-insured. The AIG report pointed out that the average traveler will visit 28 websites throughout the 53 day period before they book their trips. The internet is offering them tools…

Expedia now offers AIG travel insurance in new partnership

March 8, 2018March 7, 2018 Logan B.

Insurance company blockchain Pilot Launched by Humana and UntiedHealth

The insurer and the online travel booking site came to a deal to provide consumers with more options. American Insurance Group and Expedia have reached a deal that will sell AIG travel insurance on the popular website. On the insurance company’s side, the agreement was a part of a broader strategy. CEO Brian Duperreault is seeking to broaden the insurer’s each and grow its size. This new partnership with Expedia is actually the insurer’s second travel insurance deal five months. Two AIG travel insurance deals have been reached in under…

Average 2017 travel insurance policy covered far cheaper trips

February 28, 2018February 26, 2018 G. Turner

travel insurance policy suitcase vacation

A recent Generali Global Assistance study showed travelers spent 19 percent less on covered trips. Among travelers who purchased a travel insurance policy last year, coverage was being applied to trips that cost an average of 19 percent less than they had the year before. The data was published by Generali Global Assistance, through its Travel Insurance division. The travel insurance analysis used the insurer’s proprietary data throughout the 2017 season. Throughout 2017, the average cost of a trip covered by a travel insurance policy was $1,883. This represented a…

Revolut travel insurance covers you using geolocation tech in your phone

January 18, 2018January 17, 2018 H. Cutner

This Fintech startup offers a subscription service offering international medical and dental coverage. The new Revolut travel insurance, the product of a Fintech startup, now offers international medical and dental coverage. The product involves the use of a mobile app and geolocation technology. For a small daily subscription fee, users are covered even when they travel from one country to another. The unique new form of Revolut travel insurance lets travelers purchase a basic cheap coverage that will follow them wherever they go, regardless of whether they head out of…

Travel insurance claims are pouring in following several hurricanes

September 26, 2017September 25, 2017 Marc

This busy storm season has led to a large number of filings from people whose vacations were interrupted. The active 2017 hurricane season has led to a sudden influx of travel insurance claims as vacations and business trips see interruptions. This type of storm season has helped to demonstrate the value that this type of insurance coverage can offer travelers. Thousands of people across the United States are breathing a sigh of relief after purchasing the coverage. Those who purchased their travel insurance policies before the storms were named can…

Travel insurance trends head toward protecting travelers from terrorism losses

April 19, 2017April 17, 2017 H. Cutner

travel insurance trends - phone security check

Interest in these coverage products has been on the rise due to a growing number of global events. Leading travel insurance trends aren’t just focused on hurricanes and illness anymore. A considerable number of traveler inquiries are now seeking to make certain that they are protected against losses from terrorism, too. This shift in the market has been greatly driven by the rise in terrorist attacks happening in popular travel destinations. Travelers feeling a growing concern about the way terrorism could affect their plans and are requesting information and are…

Travel insurance policies may become necessary under new US government policies

March 7, 2017March 6, 2017 Julie Campbell

People planning to take a vacation or business trip in the United States may need additional coverage. With the changing restrictions for travelers, travel insurance policies that allow policyholders to “cancel for any reason” may become much more important. While these more expensive forms of standard travel insurance have always protected people against losses from having to make last minute changes – or cancellations – to their travel plans, travelers may now need it in case they are turned away from the United States. The standard insurance policy for travelers…

Travel insurance company steps up to cover people affected by Trump’s ban

January 31, 2017January 30, 2017 Marc

AXA Insurance UK has promised to compensate customers for costs resulting from the “unprecedented” decision. A British travel insurance company called AXA Insurance UK has announced that it will cover costs resulting from President Trump’s “unprecedented and unforeseen” executive order. Trump placed a travel ban on Muslim residents of seven countries, barring them entry to the U.S. The executive order threw a wrench into the travel plans of thousands of people. Though this type of event is not technically covered by a travel insurance policy, AXA Insurance UK has said…

Zika travel insurance coverage isn’t on most policies

June 24, 2016June 22, 2016 Julie Campbell

France flood insurance companies - Seine June 2016

Cancelling a trip as a result of the presence of this virus in the area is not covered in typical policies. Travelers looking for Zika travel insurance are surprised to learn that it’s not easy to find. The typical policy does not provide coverage for cancellation due to Zika virus risk. Insurance companies and health agencies are warning vacationers to inform themselves before booking. The CDC has released new guidance meant for doctors whose patients are pregnant. Those directions are also meant to focus on pregnant patients who have recently…

Scam travel insurance claims are becoming more commonplace

March 25, 2016March 23, 2016 Julie Campbell

According to recent data the most rapidly growing coverage segment is also a massive target for scams. Though auto policies have traditionally been the area in which insurers have traditionally had to be the most vigilant in watching for scammers, travel insurance has suddenly started to see the emergence of a new trend in false claims. The General Insurance Association (GIA) has reported that this insurance sector is growing exceptionally fast. The GIA has noticed this trend as a growing number of people travel overseas and recognize the importance of…