John Hancock Financial has announced that it will now be offering products from the travel insurance sector, which will be available to consumers through its new website which has been created specifically for that purpose, as well as through comparison websites for that type of coverage.
The new travel insurance coverage will provide protection for trip interruption or cancellation, accident, medical, and baggage, as well as multi-lingual, 24-hour emergency services. The insurer, which is based in Boston, has said that while the products themselves will be distributed by the John Hancock Insurance Agency Inc, the underwriting will be done by the Pennsylvania-based Old Republic Insurance Company.
According to a statement released by John Hancock’s assistant vice president, Beth McGoldrick, “Today’s travelers make significant outlays for transportation, lodging, and other expenses in planning trips.”
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She went on to explain that the company hopes that their new insurance offerings will help to meet the needs of these travelers from across the United States for the coverage they require while they are away from home. McGoldrick also went on to express how happy John Hancock is to work with Old Republic – and its lengthy experience in this sector – to be able to offer this product.
McGoldrick also indicated that the insurer is hoping that this will be only the first of many opportunities to expand their distribution, as they intend to build their network of financial companies and travel agents, as well as other outlets who wish to offer their clients high quality coverage products.