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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

The Travel Insurance market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

Report Snapshot
Market Share of Companies
AIG AIG 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 Analysis Chapter

The Travel Insurance industry provides coverage for unexpected travel and medical expenses for US residents traveling internationally and, to a lesser extent, domestically. Industry operators underwrite, or assume and spread risk of financial losses in exchange for fees known as premiums, travel insurance policies. These policies include trip cancellation and delay protection, baggage and other personal effects protection, emergency medical assistance and accidental death coverage. The industry primarily derives revenue from premiums, which averaged 5.0% to 6.0% of consumers' total travel expenses over the past five years, 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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