Industry Analysis & Industry Trends
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 as 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 Locations Chapter
The Travel Insurance industry is also influenced by regulatory requirements and premium prices. States with higher premiums and less regulation generally have more establishments. However, higher premiums are often associated with greater risks.
The Southeast region has the largest number of travel insurance establishments, making up about 24.9% of the industry total. The region accounts for an equivalent share of the population and personal income. The Southeast is home to Florida, which is the third-largest travel insurance market. Florida also has one of the highest average premiums per policy at $234.4, according to Squaremouth, a leading travel insurance comparison site... purchase to read more