Insurance companies are continuing to restrict travel insurance as the coronavirus outbreak continues to worsen. Israeli insurance companies have cancelled the option of insuring against cancellation of a journey overseas for health reasons, and The Phoenix Holdings Ltd. (TASE: PHOE1;PHOE5) has stopped selling travel insurance for trips to the US and Canada.
An insurance industry source told "Globes", "There's a flood of claims by people who have suddenly 'fallen ill' before a trip.
Passportcard has announced the suspension of sales of the rider covering cancellation of a journey fro health reasons, while Harel Insurance Investments and Financial Services Ltd. (TASE: HARL) has announced that "For the time being we have decided to end the option of expanding cover to cancellation and shortening of a journey overseas."
Clal Insurance Enterprises Holdings Ltd. (TASE: CLIS) has announced that until further notice it will not sell insurance covering cancellation of a trip in its 'Mediclal Global' policy. Insurance industry sources say that Migdal Insurance and Financial Holdings Ltd. (TASE: MGDL) and Shirbit have also ceased to sell this kind of insurance, while Phoenix is selling cancellation insurance for journeys after July 1, but not to Asia.
Published by Globes, Israel business news - en.globes.co.il - on March 8, 2020
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