Thursday, June 25, 2020

Up, up and away (Finally!) [UPDATED]

[Scroll to bottom for update]

Our friends at Global Underwriters have some hopeful news about short-term travel trends:
1. Airlines are enacting policies to make travelers feel safe again, as well as outline security measures (I.E. testing or certification to board flights) that are being taken, in order to allow passengers back on planes.
2. There are still hundreds of thousands U.S. Citizens and Foreign Nationals stranded outside their home country.
3. Some Domestic meetings that were postponed might be moved to the fall, hopefully creating a strong fourth quarter for hotels and restaurants that were able to reopen.
4. International Travel will resume at a moderate pace depending on the country, but it will probably take 3-6 months minimum before things start to look normal again.

So it looks like, although few folks are currently traveling, that may soon change as the country continues to "open up." And it's not just the obvious things, like camping or vacations, but other, less-obvious situations:

"[V]olunteers, part-time staff and participants working at food banks, shelters, or on natural disaster response teams, etc. that are rarely covered by workers compensation policies."

These folks (or rather, their employers/sponsors) can obtain coverage via "domestic Special Risk Accident coverage to help fill in the gaps and mitigate financial exposure for the organization that they work for."


UPDATE: Click here for even more helpful info, including Business Travel and International Travel insurance trends.

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