NIB becomes latest travel insurer to bail on sales

Brisbane, Australia - July 9, 2017: NIB is Australia's third largest private health insurance fund. This is a central Brisbane office.

NIB has joined Allianz in temporarily ceasing the sale of new travel insurance policies, blaming the decision on the COVID-19 pandemic and government-enforced travel restrictions.

This change comes into effect from the close of business today (Wednesday 1 April 2020) and only applies to all NIB Travel brands except World Nomads USA, Canada and Brazil.

NIB Travel CEO Anna Gladman said the insurer remains committed to working with and supporting its partners as they navigate the COVID-19 crisis.

“The decision to temporarily suspend sales was not taken lightly; however, we believe it was the right thing to do following the Australian government’s directive that no Australian should travel, particularly overseas, at present,” she said.

“We’re continually monitoring the situation as it evolves and it is our intention to re-commence travel insurance sales as soon as practicable taking into account official travel restrictions, government warnings and health advice.”

Gladman said the focus for NIB Travel was on helping partners and customers, as well as responding to the large volume of customer queries the business had received in relation to the COVID-19 crisis.

“Our teams are here to help, including our account managers who have been mobilised to work from home so they can continue to assist agents and partners,” she said.

“Importantly, we are also looking to the future, as we know there will be significant pent-up demand for travel from Australians, many of whom believe in travel as a way of life.

Gladman said agents and partners requiring more information about the change should contact their account manager.

The move by NIB follows Allianz’s decision to cease offering new domestic and international travel insurance policies from Friday 27 March, while Cover-More suspended its ‘Cancel For Any Reason’ product last month.

Featured image credit: iStock/Nils Versemann

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