Travel rates need sharp hike if sector is to turn profit

Airplanes taxing before take-off

Mike Webb, CEO of Mondial Assistance said despite the fact many companies were still losing money on travel insurance there were still underwriters quoting prices that could only produce significant losses.

“The continuing increase in medical costs, customer expectations, insurance regulations and changes in customer demographics mean that rates need to increase by 20% to 30% across the board, if the industry is to return to realistic long term profitability,” said Mr Webb.

“Insurers have

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: