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Travel Insurance in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Travel Insurance Market Research Report | Advisory & Financial Services | Specialist Insurance Lines | Jun 2014

Taking off: Travel insurance revenue will rise as operators expand to niche markets

IBISWorld’s Travel Insurance market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Market Share of Companies
AIG AIG market share
Allianz Allianz market share
American Express Company American Express Company market share
Industry Statistics & Market Size
Revenue
$3bn
Annual Growth 09-14
1.2%
Annual Growth 14-19
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Profit
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Employment
4,438
Businesses
118
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.

Southeast

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

 


Industry ProductsRelated ReportsTable of Contents

What is the Travel Insurance Industry?

This industry underwrites (i.e. assumes, pools and spreads out risk of financial losses over policyholders in exchange for premiums) travel insurance policies. Coverage can include losses from trip cancellation and delay, lost baggage and medical emergencies.

Industry Products
CancellationDelayTrip interruptionEmergency medicalPersonal effectsAccidental death
 
Industry Activities
Providing trip protection and delay insuranceProviding baggage insurance or personal effects coverageProviding emergency medical assistanceProviding accidental death coverage


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