nib rolls out travel insurance product with COVID-19 cover

nib rolls out travel insurance product with COVID-19 cover | Insurance Business Australia

nib rolls out travel insurance product with COVID-19 cover

nib Travel Group (nib Travel) has launched a new travel insurance product that includes plans with coverage for some COVID-19-related events as it resumes selling travel insurance in Australia.

The new travel insurance product aims to support travellers looking to book trips domestically now, and internationally in the future. It will be available across all nib Travel brands starting with Travel Insurance Direct (TID)

Aside from coverage for COVID-19-related medical expenses overseas, policyholders who chose a higher-level cover also have access to some cancellation and additional accommodation costs if subject to quarantine as a result of a diagnosis while travelling.

“We understand travellers are concerned about the impact coronavirus might have on their plans and health while travelling. A survey of our travellers showed 40% were looking for COVID-19-related events in their policy,” said nib Travel chief executive officer Anna Gladman.

“With coronavirus destined to become part of normal life and in response to the challenges this poses to travel, we have reassessed our coverage and the protection we can extend to travellers.”

The new product will also be available for World Nomads and nib Travel branded policies beginning in early 2021.

“There is significant pent up demand for travel, with a recent survey of our travellers showing that 61% of Aussies are planning on exploring our own backyard in the next 12 months with Queensland at the top of the wish list,” Gladman said.

“Travel has proven to be an important driver of economic prosperity all over the world, and it is important we do everything we can to give people the confidence to book holidays and get the global tourism industry back on its feet.”