Insurers put premium on flyer's woes

Air passengers, who often have to fork out substantial sums due to cancellations, are now in for a pleasant surprise. Insurance companies, which have found new business opportunities in flight delays and cancellations, are now offering low-premium travel insurance policies covering cancellations, baggage loss, delay in flights, etc.
Tata AIG, for example, offers a travel insurance called Domestic TravInsure for between Rs 100-150 per ticket to online SpiceJet customers. The company is in the process of brokering similar arrangements with other airlines.
With airports under strain to accommodate thousands of passengers every day, loss of baggage and flight delays are events that can be insured. The idea is to address the inconveniences experienced during travel, Mr Sohail said. The policy is valid for 30 days from the time a passenger takes the flight and covers travel by all modes of transportation during this period.
The insurance policy can be bought seamlessly at the click of a mouse in a single transaction after a customer buys the ticket online.
25/08/07 Economic Times/Moneycontrol.com

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Categories: General Aviation Aug 2007