Assurant subsidiary Virginia Surety Company has filed to introduce a new retail travel insurance program in Vermont.
The program will support prepackaged plans offered separately from a travel purchase on a guaranteed-issue basis. Coverage may be sold online or through licensed producers and travel retailers, including airlines, cruise lines, hotels, vacation-rental owners, tour operators, schools, employers, and religious or recreational organizations.
Available benefits range from conventional trip cancellation, interruption, delay, baggage, medical, evacuation, and rental-car coverage to more specialized options covering rented boats and recreational vehicles, event tickets, skiing and other lost recreation days, search and rescue, kidnapping, pet medical expenses, and political or natural-disaster evacuations. One option even reimburses clubhouse beverage expenses after a golfer makes a hole-in-one.
Single-trip and annual multi-trip plans may be offered. Travel protection packages can also include a separate administration fee of up to $10 for single-trip coverage or $30 for annual plans.
Assurant developed the rates using experience covering more than 2.5 million travelers and approximately $57 million in trip-cost exposure. The filing is pending approval.
