As the number of Canadians travelling overseas and to the United States increases1, Zurich Insurance, a top three provider of travel insurance internationally, today announced the launch of Zurich Travel Insurance, a new travel protection proposition for Canadians travelling abroad. Coverages are available for emergency medical and dental care, trip cancellation and interruption, baggage loss and damage, flight and travel accident, and 24/7 travel assistance services.
In Canada, Zurich Canada is underwritten by Zurich Insurance Company Ltd (Canadian Branch) and is part of Zurich Insurance Group, a Switzerland-based global insurance provider with subsidiaries licensed to provide travel protection in multiple geographies around the world. In 2017, Zurich acquired Cover-More Group Limited, a specialist global travel insurance and medical assistance provider based in Australia. Other Zurich travel subsidiaries include U.S.-based Travelex, and Latin American brands Travel Ace and Universal Assistance.
"Our commitment to the travel sector has grown along with the rise in international travel for Canadians," said Saad Mered, CEO of Zurich Canada. "We are excited to bring new capabilities to Zurich Canada, strengthening our core offerings to help meet the growing demand for convenient, customized and compliant travel protection plans."
Zurich Canada's new proposition will be offered through distributors to the travel industry, such as airlines, hotel chains, online travel agents and cruise lines, in both Canada and the United States. Those distributors will integrate Zurich'soffering to enhance the experience of Canadian travellers.
According to 25-year veteran of the travel insurance industry and Zurich Canada's Vice President of Travel, Accident & Sickness John Thain, "Canadians' health insurance does not follow them across the border, so they need travel protection plans with medical coverage they can count on. Our new proposition was designed to help travellers close this coverage gap."
In addition to the medical, trip cancelation, and baggage coverages, the new proposition includes access to Zurich Travel Assist, a 24/7 travel assistance service administered by Toronto-based Zurich subsidiary World Travel Protection. For more than 25 years, World Travel Protection has provided medical, travel and security assistance services, complete with a mobile app, to over 3.8 million travellers.
1 Statistics Canada. Year-end review, 2017. The number of Canadians travelling overseas has increased every year since 2013 with travellers taking a record-setting 12.8 million trips in 2017. In addition, following three years of decline, the number of same-day and overnight trips to the United States by Canadian residents rose 2.7% in 2017 to 42.1 million.