In the new reality of COVID-19, some Americans may still be willing to travel abroad - but they're going to make sure they're insured up to the hilt.
- In the new reality of COVID-19, some Americans may still be willing to travel abroad - but they’re going to make sure they’re insured up to the hilt.
As destinations in Europe and Asia ease lockdowns, several U.S. industry figures told Reuters this week that holidaymakers booking for later in the year were paying around 40% more for insurance as a result. The shift in behavior is one area of opportunity for an insurance industry that has been hammered by the crisis, and is a rare area where they can develop new products.
“The cancel for any reason policy was an option before, but it is more expensive, which is probably why it wasn’t popular,” Squaremouth spokeswoman Kasara Barto said.
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