Generali insurance sales for cruise and air soared

Generali Global Assistance insurance sales for cruise and
air travel soared in 2018 compared to the year prior, 1,211% and 43%,
respectively, which the insurer attributed to increased consumer awareness.

“The significant rise in both insured cruise and air
travel is encouraging, as it is an indication that consumers are gaining a
fuller understanding of the need to insure their trips,” CEO Chris
Carnicelli said in a statement.

Generali said the average cost of an insured trip increased
5% to $1,976.83. The trip premium average was flat at $139 per trip.

Generali also found that the average number of people on an
insured trip was 1.8 in 2018, up from 1.75 in 2017. For the last three years,
average trip length has remained nine days.

The average time between trip purchase and departure
increased nine days, to 90.

Generali specializes in insurance for vacation rentals. For
that specific product, the average cost of a trip was $1,878, up 1.4% year over
year. The average premium was up 1.5% to $80.16, trip duration was flat at six
days and the time between purchase and departure increased to 90 days.

The top destination for Generali customers remained the
Caribbean. The U.S. ascended one spot to No. 2, overtaking last year’s second
destination, Europe, which fell one spot to No. 3.

The remaining most-booked destinations were, in order, the
Bahamas (same as last year), Alaska (up one spot), Mexico (down one spot), Asia
(same as last year), Italy (not ranked last year), Hawaii (up one spot) and
Bermuda (not ranked last year). 

Canada and Australia, Nos. 8 and 9 last year, fell off the
list in 2018.

Source: Read Full Article