RoamRight Insurer Sees Huge Increase in Sales as a Result of Zika Outbreak
What’s bad news in one sector of the industry is often good news for another. Even as the Zika virus is causing some travelers to rethink their vacation plans, it’s a boon for travel insurance companies and the travel agents who sell it.
RoamRight, a Maryland-based insurance company that’s part of Arch Capital Group Ltd., reported an 81% increase in “Cancel for Any Reason” policies sold in January over last year, and a 10% increase in all types of coverage to affected regions since December 2015.
RoamRight’s “Cancel for Any Reason” policy refunds travelers 75% of nonrefundable trips, including airfare, hotel, tours, and excursions.
The World Health Organization announced Monday that the thousands of birth defects in Brazil make Zika an international health emergency with the potential to infect almost 4 million people in the Americas.
–Anna Gleksman
