ABTA Travel Sure is underwritten by French insurance major AXA
ABTA, a UK travel trade association for tour operators and travel agents, has launched a new travel insurance product called ABTA Travel Sure.
The new insurance product is underwritten by French insurance major AXA.
It has three different levels of cover to offer across single trip and annual multi-trip options, said the organisation. Prices of the cover are based on the individual requirements of the policyholder.
According to ABTA, all cover levels are five-star rated by financial services company Defaqto. The travel trade association said that for single trip cover, there is no upper age limit.
The new travel insurance product offers £5m-£10m medical expenses per person based on the level of cover.
ABTA expects the product to appeal to people who have existing bookings or rescheduled holiday bookings to nations that are exempted from the current advice of the UK Foreign and Commonwealth Office against all but essential travel, who need cover for Covid-19 medical expenses while being on a holiday.
The travel trade organisation said that its members have a long-term opportunity to promote the new travel insurance product which will be based on their level of involvement. For this, the members may have to become an introducer appointed representative or an appointed representative.
ABTA travel insurance head comments on the ABTA Travel Sure product
ABTA travel insurance head Ian Hall said: “Insurance has an important role to play in giving people confidence to book now travel is restarting. We have known for some time that there is demand in the market for a travel insurance product that consumers can put their trust in and having initially put our plans to launch ABTA Travel Sure on hold because of the pandemic we are now in a position to assist the industry in its recovery.”