Travel insurance resource for academic institutions InsureMyTrip for Education has announced a new enhancement to the Academic Explorer Horizon plan, underwritten by Nationwide Mutual Insurance Company. This plan, which is only available from InsureMyTrip, now enables a school to insure all students, faculty and chaperones travelling in a defined programme term, for a fixed rate of US$46 per traveller/per trip, said InsureMyTrip.
"Schools now have something new and simple to offer students that cannot be found anywhere else in the marketplace. Unlike other plans, the low fixed rate and expansive trip cancellation coverage available from the Horizon plan make it an attractive choice," said InsureMyTrip CEO Jim Grace. "While the traditional Academic Explorer products are still widely popular and available with an annual policy, this latest programme-focused enhancement provides additional flexibility."
According to InsureMyTrip, the newly updated Horizon plan provides trip cancellation and trip interruption benefits that help safeguard and mitigate the financial risks associated with academic travel. “Students not only have the option to cancel a trip or come home early if sick or injured, but would also have the ability to cancel or interrupt a trip due to a covered terrorist attack, a travel warning issued by the Centers for Disease Control and Prevention (CDC) or a travel warning issued by the US State Department,” it said.
The fixed rate provides each traveller up to $4,000 in trip cancellation and up to $5,000 in trip interruption protection, which covers eligible tuition, room and board, and airfare expenses.