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The global travel insurance market grew at a CAGR of around 6% during 2014-2019. Looking forward, the global travel insurance market to continue its moderate growth during the next five years.
Travel insurance provides financial protection for expenses or losses incurred due to unexpected events while domestic or overseas travel. It generally covers the costs of lost or stolen belongings, emergency medical care, accidental death, and trip cancellation and interruption. It takes into effect from the day of travel until the insured reaches back home.
Nowadays, several companies are providing travel insurance with 24/7 emergency services, such as replacing lost passports, cash wire assistance and re-booking canceled flights. They are also offering customization options depending on the geographical location and as per the requirements of the insured individuals.
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Travel Insurance Market to See Major Growth by 2025 : AXA, Seven Corners, Travel Safe
Edison, NJ (SBWIRE) 12/15/2020 Latest Report Available at Advance Market Analytics, Travel Insurance Market provides pin-point analysis for changing competitive dynamics and a forward looking perspective on different factors driving or restraining industry growth.
The global Travel Insurance market focuses on encompassing major statistical evidence for the Travel Insurance industry as it offers our readers a value addition on guiding them in encountering the obstacles surrounding the market. A comprehensive addition of several factors such as global distribution, manufacturers, market size, and market factors that affect the global contributions are reported in the study. In addition the Travel Insurance study also shifts its attention with an in-depth competitive landscape, defined growth opportunities, market share coupled with product type and applications, key companies responsibl