New offering to be available online
The British Insurance Brokers’ Association has announced the launch of the BIBA Protect Holiday Travel scheme.
The scheme includes a range of new features, including up to £10m medical cover for single and annual policies, no exclusion for terrorism, and a single excess per family.
Hazardous activities are also covered as standard.
Adults can be covered up to the age of 85 on a single trip policy, and 75 and 70 years on an annual multi-trip policy to Europe and the rest of the world, respectively.
The new scheme offers a web-based solution that gives BIBA members the ability to sell travel insurance through their own branded website, and also to upgrade policies mid-term and renew online.
The system can also support branded affinity schemes and employee groups.
The scheme is backed by Tokio Marine Europe Insurance.
Graeme Trudgill, BIBA's Technical and Corporate Affairs Executive, said: "Tokio Marine will be a new addition to the BIBA scheme map. This, our flagship scheme, is superior to the previous offering with more competitive rates and increased age limits.
“BIBA is particularly delighted that this new policy has no terrorism exclusion, something that has been discussed with HM Treasury”.
Alastair Blundell, Executive Operations Officer at Tokio Marine Europe commented: “We are very proud to have been awarded the BIBA Holiday Travel scheme and look forward to working with the membership as we launch the new product across the UK.”