nib announces new travel insurance product with coronavirus cover

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nib has announced a new travel insurance product that includes plans that offer cover for some COVID-19 related events.

The company said the new product will be rolled out across all nib Travel brands starting with Travel Insurance Direct (TID).

nib Travel CEO Anna Gladman said the new product reflects efforts to find new ways to protect travellers in a world learning to live with coronavirus.

“We understand travellers are concerned about the impact coronavirus might have on their plans and health while travelling. A survey of our travellers showed 40% were looking for Coronavirus (COVID-19) related events in their policy,” said Mrs Gladman.

“With coronavirus destined to become part of normal life and in response to the challenges this poses to travel we have reassessed our coverage and the protection we can extend to travellers," she said.

Travellers who choose a higher level cover will also have access to some cancellation and additional accommodation costs if subject to quarantine as a result of a diagnosis while travelling.

“There is significant pent up demand for travel with a recent survey of our travellers showing that 61 per cent of Aussies are planning on exploring our own backyard in the next 12 months with Queensland at the top of the wish list,” said Mrs Gladman.

“Travel has proven to be an important driver of economic prosperity all over the world and it is important we do everything we can to give people the confidence to book holidays and get the global tourism industry back on its feet,” she added.

The new cover will also be available for World Nomads and nib Travel branded policies from early 2021.