nib pauses all travel insurance sales to Australia and New Zealand
Travel and health insurer nib announced that international sales are unaffected, and the pause in sales to Australian and Kiwi residents will not have a material financial impact on the group
The pause has no impact on current travellers and all travel insurance coverage already purchased before 5 October 2021.
Managing Director of nib, Mark Fitzgibbon, commented: “Refreshing underwriting agreements on a regular basis helps ensure we deliver optimal and sustainable outcomes both commercially and for our customers,” he said. “The ending of current arrangements is obviously disruptive, but we’ll emerge in better shape as travel and market conditions recover.”
Covid-19 forcing company to pause
It’s the second time in two years that nib has suspended travel insurance sales, with the Covid-19 pandemic and government-enforced travel restrictions forcing the company to temporarily pause in April 2020.
“Covid-19 and prolonged border closures continues to have an impact on all elements of the travel industry,” Fitzgibbon added. “We plan to resume selling travel insurance to Australian and New Zealand residents as soon as possible to support our customers.”
nib travel introduced a Covid-19 product in Australia at the start of the year. In February, Fitzgibbon called nib’s half-year results ‘pleasing’ despite the pandemic.