According to survey results by Mondial Assistance USA, a travel insurance company, the majority of Americans intend to take a vacation in 2011, a situation that has not been seen since the start of the global economic crisis. The insurer, based in Richmond, Virginia, found that 51 percent of Americans claim to be either “somewhat confident” or “confident” that they will be taking a vacation of a minimum of one week in length, and that will be at least 100 miles away from their primary residence. This is an increase…
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Is travel insurance becoming a necessity?
Having suffered through the worldwide economic recession and a year marred by disruptions, the travel insurance industry is finally seeing an increase in business. More people bought travel insurance last year as people became aware of the potential for calamitous situations to arise during travel. With earthquakes, floods, volcanic eruptions, blizzards, and civil disturbances, people have begun to see the value of such policies. Dean Sivley, chief executive of Travel Guard, a travel insurance provider, has said that more people are buying policies, but that the company is also paying…
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