“In April 2019, clients paid almost 8 million crowns for travel insurance. This year it was only 0.6 million crowns,” said Milan Káňa, a spokesman for the Kooperativa insurance company. Sales of travel insurance almost stopped in March and April due to closed borders. In June and July, the insurance company recorded a decrease of about 35% compared to last year. The information was brought by the portal today.
Allianz Insurance also saw a decline in interest in travel insurance. “There is less travel insurance abroad than last year. However, this was not reflected in the total income, because travel insurance is not as frequent as, for example, property or life insurance,” said Allianz spokesman Václav Bálek.
Uniqa and ČSOB also sold about half as much travel insurance as last year. “We are recording a drop of about 50% in terms of the number of insurances in the summer season. The drop in premiums is lower because clients have started to demand higher coverage and more co-insurance.
According to Generali spokesman Jan Marek, an increase can also be observed in the case of interest in domestic travel insurance. Travel insurance prices hardly changed due to the pandemic, but there were changes in the case of insurance conditions.
It has been added to the general exclusions that travel insurance does not cover an event that occurred in connection with an illness for which the Ministry of Health issued warnings or recommendations.
According to Marek, the insurance no longer covers a loss event caused by the intervention of official or state power. Kooperativa, on the other hand, states in the contracts that the insurance of medical expenses now also covers the costs associated with the Covid-19 treatment. This applies to treatments in all countries that are marked in green or orange on the “risk light”.
The cancellation insurance will also reimburse clients for accommodation and meals in the event of quarantine, and even alternative transport to the Czech Republic. Unlike the others, Uniqa Insurance has maintained its current insurance conditions – with one exception. They will not insure you if you travel to a country marked in red at a traffic light.
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