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 Products Chapter
Many people purchase travel insurance before leaving on vacation. Vacations can cost a great deal of money, so travel insurance gives customers protection in case of unforeseen events. There are four major types of travel insurance, although customers can purchase these types of insurance with added options.
Trip protection
Trip protection consists of cancellation coverage, delay coverage and trip interruption. Together, these segments make up 94.0% of the Travel Insurance industry's revenue. Cancellation coverage reimburses prepaid expenses if a customer needs to cancel their trip due to illness or death. Tri... purchase to read more