Travel insurance sales spike as the MH370 mystery continues

business travel insurance

Fliers headed into or through the South East Asian region are feeling a higher sense of risk.

business travel insuranceIn light of the heart wrenching disappearance of the Malaysia Airlines flight MH370 and the 239 people who made up its passengers and crew, travel insurance has become a product that fliers are packing with them much more frequently, as people feel rattled about the situation in the South East Asian region.

This has occurred at the same time that some travelers have simply cancelled their plans, outright.

Many people are feeling quite rattled – understandably so – about the circumstances surrounding the missing plane and would rather not find themselves in the air until that mystery has been solved. However, for those who can’t avoid heading away from home and into the region, or for those that have not been entirely frightened off of the chance to head away for business or pleasure, travel insurance is increasingly becoming the option to provide them with a bit of extra peace of mind.

This has been the case in many countries, but travel insurance sales are especially rising in India.

The coverage is mandatory for travelers headed from India to the United States, the United Kingdom, Canada, and Australia, but this additional medical coverage has traditionally been skipped over by the majority of people headed through the South East Asian or the Gulf regions.

According to S. Bhattacharya from National Insurance Co., “In the last few days, we have witnessed a sharp rise in purchase of travel insurance by fliers to South East Asia. The mystery surrounding the disappearance of flight MH370 that was flying from Kuala Lumpur to Beijing appears to have triggered the panic purchase.”

Many insurers and insurance agents are hoping that this trend for coverage among travelers will continue. The reason is that this added protection is very affordable and is extremely useful against unexpected mishaps and illnesses that could be financially devastating to someone who must seek care in a country that is not their own.

Moreover, travel insurance also provides added coverage against other unfortunate occurrences such as lost baggage, inordinate flight delays, accidents, and even a hijacked plane.

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