The Force Majeure Insurance allows for the cancellation, interruption, or extension of a trip in the event of situations considered force majeure that, to date, have been excluded from travel policies
InterMundial Insurance broker specializing in travel insurance, launches Force Majeure Insurance, a policy that protects travelers against force majeure situations such as strikes, terrorist acts, wars, or natural disasters that prevent them from starting their trip or force them to interrupt or extend it. This unique insurance on the market responds to the new Package Travel Directive, which was implemented in Spain in 2018 and requires travel agencies and tour operators to provide greater protection for travelers.
In general, insurance policies exclude coverage for situations such as wars, terrorist acts, or natural disasters. The new European regulations require tourism companies to provide more protection against these types of situations, which are considered force majeure, are unpredictable, and for which there had been no solution until now. Faced with this new scenario, InterMundial has worked on designing a product that guarantees a solution for the traveler, allowing them to cancel, interrupt, or extend their trip due to force majeure.
Thus, if before taking a trip, official authorities declare that travel to the destination is not possible, or if there is a delay in the departure of the means of transport of more than 24 hours due to a force majeure event and there is no alternative way to reach the destination, the insurance will reimburse the traveler for cancellation expenses. Similarly, if, during the stay at the destination, a force majeure situation causes a delay in the return transport of at least one day and the traveler needs to remain at the destination longer than initially planned, the insurance will reimburse the costs incurred for accommodation. Finally, if the traveler has to interrupt their trip and return home due to a force majeure event, the insurance will also reimburse the costs of return transport.
“It is essential that travel insurance adapts to the current reality and takes into account all the variables that can occur in tourist destinations,” explains Carlos Uceda, Product Analyst Director at InterMundial. “Tourism companies must protect the traveler against force majeure situations, and this insurance is a way to do so and assume the risk that the traveler faces when they occur.”
Among the causes considered force majeure in this insurance are wars, rebellions or military operations, acts of terrorism, coups d'état, revolutions, strikes, riots, or natural disasters such as fires, floods, earthquakes, explosions, tsunamis, volcanic eruptions, landslides, avalanches, hurricanes, or cyclones.
Force Majeure insurance is included in InterMundial's product portfolio for travel agencies and tour operators.
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