Rock Insurance Group has launched two new Covid-19 protection products “to protect travel businesses and travel agents” should customers need to cancel or postpone their trips due to coronavirus-related issues.
Rock said the products had been launched in response to research it recently carried out with travel companies identifying the “gaps in travel insurance” to instil confidence to book holidays.
The first is a business policy – which Rock says is the first to market – that covers agents against cancellation costs in the event that a customer books a holiday and needs to cancel due to testing positive to Covid-19, giving the opportunity for the agent to change the booking and recover additional costs in doing so.
The second product is travel insurance that can be sold to consumers that includes pre-departure cancellation if travellers test positive for Covid-19 (even if this is at the airport) and cannot travel.
It also covers emergency medical care and repatriation while travelling should they contract the virus while abroad.
The product is flexible so if there is a Covid-19 flare-up in a destination, customers will be allowed to change dates or destination ahead of their trip without admin fees, Rock said.
Antony Martin, managing director at Rock Insurance Group, said: “We are excited to be leading the charge in launching our new Covid-19 protection products.
“There has been a great deal of confusion around travel insurance recently and the travel industry has incurred significant costs because of it.
“We noticed a gap in the market for a solid Covid-protection policy, so we wanted to create robust products which clearly outline what is and isn’t included.
“As the world is starting to open up for travel again, we feel it is really important to reinstate traveller confidence by offering pre-departure cover for the elements that are not covered under Package Travel Regulations as well as cover during their trips.
“This new product will help drive customer bookings whilst ensuring the travel trade is better prepared for any potential repercussions if the Covid-19 worsens and if any new pandemics emerge.”