Border reopening paves way for resumption of travel insurance sales
Insurers look set to resume large-scale international insurance sales after the Federal Government removed its “do not travel” global advisory, more than a year after it was introduced after the COVID-19 pandemic was declared in March last year.
Today marks the progressive reopening of Australia’s national borders, with fully vaccinated residents no longer needing to apply for government permission to leave the country.
“We know it has been a difficult 18 months for Australians overseas trying to return, and for Australians with family and friends overseas,” Minister of Foreign Affairs Marise Payne said.
Canberra has reinstated country-specific travel advice levels for 177 destinations.
“The updated country-specific travel advice will allow Australians planning to travel overseas to assess risks, understand requirements, and prepare to travel safely,” Ms Payne said. “It will also help Australians to access travel insurance more readily.”
The Insurance Council of Australia (ICA) says travel insurance is available for overseas trips, and that some insurers have introduced cover for various COVID-related travel situations to destinations other than those few that continue to carry a Level 4 “do not travel” advisory.
Not all travel products will automatically cover COVID, the ICA says, cautioning some may provide it as an add-on for an extra cost and some will include it in the policy as part of the overall premium charged.
“Travel insurance remains essential for all the reasons it was pre-pandemic: to provide protection when the unexpected occurs far from home,” ICA CEO Andrew Hall said.
“Some insurers are now offering cover for a range of COVID-related situations, providing additional protection for travellers if they want or need this as part of their travel insurance.”