Travel insurance premiums to increase in the UAE
As the official holiday season begins in the UAE, experts say that travel insurance prices are expected to rise
Many insurance brokers and other travel insurance experts working in the UAE believe that the demand for summer travel matched with the new demand for inclusive policies that include coverage for epidemics will see travel insurance premium rates increase over the summer months.
Indeed, Co-Founder of aggregator site BuyAnyInsurance.com Mark Bachayani insists that the resumption of air travel and demand for cover would see policies rise as much as 25 per cent.
In addition, Fidelity Insurance board member George Ashkar said: “Travel insurance prices will rise during the coming period, in light of the growth in demand by residents and citizens in the UAE, and due to financial results of insurers for previous periods.”
And while Covid-19 complication are covered by policies in the UAE, Ashkar noted: “Until today, we have not heard that national and foreign insurance companies operating in the UAE have included the risk of the coronavirus epidemic in policy benefits outside the country.”