Americans Spending More On Travel Insurance

Americans spent nearly $2.8 billion on all types of travel insurance in 2016, an increase of 19% from the last time spend was analyzed by the U.S. Travel Insurance Association (UStiA), two years ago.

According to the UStiA,  42.6 million people were covered by policies purchased in 2016 through UStiA members. The number of plans sold increased by 28.5%.

Plans including trip cancellation/interruption benefits accounted for more than 87% of the travel protection products purchased in 2016, while medical and medical evacuation benefits accounted for 7.8% of the plans sold. The 2014-2016 Travel Protection Market Study was conducted for UStiA by Willis Towers Watson, an independent actuarial and benefits consulting firm. The study is produced every two years.

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Tip of the Day

As an industry, we are selling experiences and travel. What better connection can we make than suitcases for children? I want to put a call out to fellow advisors to find out who runs the foster care in their community and ask them to collect luggage, book bags, toiletries and such from their clients.

Anita English, My Travel Advisor

Daily Top List

Best Spots for Cliff Jumping in Ireland

1. County Antrim

2. County Donegal

3. County Sligo

4. County Galway

5. County Kerry

Source: CNN

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