Industry Analysis & Industry Trends
Flying high
Travel insurers faced steep revenue declines during the recession. Declining consumer disposable income meant fewer people were traveling and purchasing travel insurance. However, the industry returned to growth in 2010. Consumers became more sensitive to the potential losses associated with airline delays and cancellations, prompting them to buy travel insurance. The industry is expected to continue growing over the next five years and expand into niche markets catering to students and business travelers.... purchase to read more
Industry Report - Industry Analysis Chapter
The US Travel Insurance industry provides peace of mind to US residents travelling internationally by providing coverage for unexpected travel and medical expenses. Industry firms underwrite (i.e. assume the risk for potential costs in exchange for fees known as premiums) travel insurance policies covering primarily trip protection, personal effects protection, emergency medical assistance and accidental death. The industry primarily derives revenue from premium fees, which average 5.0% to 7.0% of the total travel expenses and liability risk covered... purchase to read more