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Half a decade back, travel insurance was taken mainly against loss of baggage or to compensate for trip cancellation expenses. But with marketplaces and travel aggregators providing comprehensive and competitive offers, insurance packages can now be compared, chosen and bought online. The flexibility and accessibility is expected to bring more takers and a rapid market expansion and growth. “As per the General Insurance Council report, last year, it was a 950-crore industry for overseas travel insurance and this year, three years after the pandemic, the expected growth is between 15-20 pc,” says Manas Kapoor, Business Head – Travel Insurance, Policybazaar.com,…

Are Australians paying more for travel insurance?

Are Australians paying more for travel insurance? | Insurance Business Australia Insurance News Are Australians paying more for travel insurance? Australian travelers speculate on the possibility of being “ripped off” Insurance News By Jonalyn Cueto Australians may be shelling out more for travel insurance compared to their overseas counterparts. “Travel insurance is much cheaper overseas than here in Australia,” a reader of The Sydney Morning Herald’s “Traveller” column wrote. The reader said that relatives in Europe enjoy year-round, worldwide coverage without age or health restrictions at lower costs. The question looms: Are Australians getting the short end of the stick?…