travel insurance News

Lost Luggage Claims Jump 30% Compared to Pre-Pandemic Levels: Mapfre

The number of travelers reporting stranded luggage this summer jumped 30% from 2019, according to Spanish insurer Mapfre SA. More bags are going missing as short-staffed airports and airlines struggle to keep up with luggage handling alongside surging travel demand. …

Nordic Insurer Finds Longer, More Expensive Trips More Popular Now Than Before COVID

Long-haul travel is back among Danes and even more popular than before the COVID-19 pandemic, as pent-up wanderlust increasingly drives them to venture outside Europe’s borders, Scandinavia’s largest insurer Tryg said on Tuesday. “Whereas last year we traveled a little …

UK Travel Insurance Policies May Not Cover Flight Disruptions Due to Strikes: Report

Insurance may not save you from summer travel misery. Four in 10 policies don’t protect against strikes, the UK consumer watchdog Which? reported in its annual review. If your airline goes bankrupt, only half will refund your holiday costs. The …

Markets/Coverages: Brownyard’s Library Program; Core Specialty’s Equine Unit; Skyward’s Cannabis Bonds; Roamly’s Travel

Brownyard’s ‘By The Cover’ Now 15 Additional States New York-based program administrator Brownyard Group announced that its By The Cover, its insurance program for libraries, is now available in 15 additional states, for a total of 26. By The Cover …

Travelers Weigh Canceling, Delaying Trips as Countries Tighten Rules on Omicron Fears

SYDNEY/SINGAPORE – Some would-be travelers are considering canceling or delaying trip plans in response to fresh curbs prompted by the Omicron variant of the coronavirus, travel agents said on Monday, threatening an already fragile recovery for the global tourism industry. …

Pet Insurance Outshines Travel, Other Inland Marine Coverages Cut by COVID: AM Best

The U.S. inland marine insurance segment experienced a “significant downturn in profitability” in 2020, with its loss ratio deteriorating by nearly 16 percentage points amid the COVID-19 pandemic, according to an AM Best report. The Best’s Market Segment Report, “Significant …

Demand for Travel Insurance Takes Off As More Destinations Require Coverage

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. Airline bookings are on the rise in some regions, driving …

Top Insurance Regulatory Developments of 2020: Part 2

This is the second installment of a two-part look at the top 10 insurance regulatory developments of 2020 by attorneys at Locke Lord. The first part on Jan. 22 covered COVID-19, Insurtechs, Data Privacy, Race Equality and Pharmacy Benefit Managers. …

Brexit Ends Britons’ Right to Live and Work in EU – And Travel Insurance Is Essential

LONDON (AP) – So far, the large majority of British and EU citizens have not felt the realities of Brexit. Though the UK left the European Union on Jan. 31, it follows the bloc’s rules until the end of this …

UK Insurtech Startup battleface Raises $12M in Funding from U.S. Venture Capital Firm

UK startup battleface Inc., a company that specializes in tech-enabled global travel insurance, announced a $12-million Series A financing round from Drive Capital, a Columbus, Ohio-based venture capital firm. The investment will be used to fund growth and market expansion …