Travel Insurance



Cover-More addresses rising overseas medical care costs | Insurance Business New Zealand















“Uninsured travelers can find themselves facing… financial devastation and potential bankruptcy”

Cover-More addresses rising overseas medical care costs

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It’s no secret that the travel insurance industry has been grappling with the escalating costs of overseas medical care in recent years, posing challenges for both insurers and travelers.

The increasing cost of overseas medical care raises concerns about the potential financial implications for travelers who experience medical emergencies abroad.

“Uninsured travelers can find themselves with medical bills which can quite frankly, leave them facing

Travel Insurance

People have started traveling again. In fact, the numbers are close to those seen before the Covid-19 pandemic. However, every trip still comes with some risks. There are many untoward incidents that can occur during a journey and cause severe mental trauma and financial losses. Travel insurance is an effective tool to manage the uncertainties related to international travel. These schemes have many features that people are often unaware of but can prove to be extremely useful in an adverse situation.

So, what are the features a traveler must have in a travel insurance policy? The first and foremost is

Travel Insurance

A tragic incident involving a train accident in Odisha brought to light the significance of safety and financial protection for railway passengers. The Indian Railways offers a travel insurance program for a low cost of 35 paise per passenger to provide some level of insurance protection.

IRCTC provides travel insurance on e-tickets as an optional service for a small price, which the traveler must select at the time of booking. Note that once the ticket has been booked you cannot choose insurance. However, it is not mandatory to buy travel insurance while booking a ticket through IRCTC.

According to IRCTC

Travel Insurance

The aftershock of the pandemic is finally receding and the economy is opening, global tourism is headed for a surge. According to data released by the Reserve Bank of India (RBI)1Indians have already spent $10 billion in the nine months from April-December in 2022-23.

In volume terms, the number of Indians traveling abroad has jumped a massive 137%2, taking it to 18 million from just 7.1 million in 2021, as per data from the Ministry of Home Affairs (MHA) Bureau of Immigration (BoI). These trends are set to get more pronounced with more Indians traveling for