Coronavirus triggers record travel claims payout year

Coronavirus has triggered a record year in travel insurance claims payouts, according to the ABI.

Around £279m will be paid out on the virus-related travel claims, most on cancellations and disruption costs overseas. 

Previous record year for cancellations was 2010, at £148m.

“At this unprecedented time, travel insurers are helping soften the financial blow for thousands of customers whose travel plans have been cancelled or disrupted by coronavirus,” said ABI assistant director and general insurance policy head Mark Shepherd.

“Along with compensation from sources, such as airlines and credit card providers, travel insurers are helping customers get through these tough times.”