Concerns about Terrorism in the Travel Industry
The year of 2018 brings with it a remarkably positive outlook for the travel industry, with expected growth continuing throughout the year. According to tripinfo.com:
“This growth in travel isn’t about localized economies and domestic road trips via the family car anymore (although RV sales are expected to hit their highest level in four decades in 2017 according to the Recreation Vehicle Industry Association). With increasing globalization, international digital and social connectivity, and easily accessible methods of travel, it is easier than ever before for travelers to jet set to somewhere new… While we worry about the rise of nationalism in certain parts of the world, we expect local and national governments and other organizing bodies to maintain and strengthen accommodative policies that support tourism growth in a sustainable way in the long run. Policy uncertainty and geopolitical tensions can’t be ignored, but outside of any major shock, we expect travel to benefit from a solid year of macroeconomic growth in 2018.”
Lingering within this overall positive outlook are certain areas of concern within the industry, notably geopolitical stability, or lack thereof. In particular, travelers still express a level of apprehension for the potential of terrorism in their destination, be it international or domestic travel. With almost regular highly visible incidents of terrorism occurring lately, even in what were once thought of as “safe” or “stable” destinations, it’s no surprise that travelers may have concerns about it affecting their travels. How can you allay their concerns without actually having any control over the situation?
Travel insurance plans that cover terrorism as a named peril can go a long way toward easing the minds of travelers, and at the same time reflect positively on you as you offer a solution. Travel Insurance Services offers numerous trip cancellation plans that include terrorism coverage as a named peril.
Specifically, in both our Travel Insurance Select and Trip Care Complete plans, the Trip Cancellation benefit covers a terrorist incident that occurs within 30 days of your scheduled departure date in a city listed on the itinerary of your trip. This same city must not have experienced a terrorist incident within the 90 days prior to the terrorist incident that is causing your trip cancellation. Benefits are not provided if the Travel Supplier offers a substitute itinerary. This benefit also applies if a terrorist incident occurs during your trip in a city on your itinerary; that event would be covered under the Trip Interruption benefit.
The terrorism coverage is available on our Travel Insurance Select Plan, Trip Care Complete plan, and custom tour operator plans. Do keep in mind that not all travel insurance plans include coverage for terrorism, so be sure to understand the product thoroughly before offering it to your clients.
If you have any questions about the products offered by Travel Insurance Services, or would like to know how we can better help you and your clients, please contact us!
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