COVID-19 and the public perception of travel insurance. (September 2021)

• Record Type: Journal Article
• Authors: Tan, David; Caponecchia, Carlo
• Is Part Of: Annals of tourism research. Volume 90(2021)
• Publication Date: 2021-09
• Subjects: Travel insurance -- Underinsurance -- COVID-19 -- Insurance -- Reverse moral hazard; Tourism -- Periodicals
• DOI: 10.1016/j.annals.2020.103106
• Languages: English
• ISSNs: 0160-7383

Abstract

Highlights: Many travellers have had their insurance claims denied during the COVID-19 crisis. Catastrophic risks are not diversifiable by insurers and excluded in coverage. Travellers will likely revise the perceived value of travel insurance downwards. This will exacerbate the economic fallout via a reverse moral hazard effect. We discuss recommended actions for stakeholders.