Covid-19 legal uncertainty leaves travel insurers exposed - Matthew Ford speaks to Insurance Day

07 Jul 2020

The coronavirus pandemic has affected the relationship between travel insurers, tour operators and consumers - with potentially serious implications for the insurance industry.

Speaking to Insurance Day, BLM Partner and head of travel, Matthew Ford along with Sarah Prager and Richard Collier of 1 Chancery Lane have outlined what impact the pandemic is having on the industry and what areas are most likely to be worst hit.

They say,

"Some consumers and tour operators may regard travel insurance as the solution to what appears at present to be an insoluble problem. The Association of British Insurers (ABI) has calculated travel insurers in the UK could face at least £275m ($343.6m) of claims as a result of coronavirus for holidays and trips that could not be fulfilled because of cancellations or general travel restrictions. To put this into perspective, the Eyjafjallajökull volcanic eruption in Iceland in 2010 resulted in a mere £62m of payments, a record at that time."

To read the full article please click here to be redirected to the Insurance Day website (subscription required).

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Disclaimer: This document does not present a complete or comprehensive statement of the law, nor does it constitute legal advice. It is intended only to highlight issues that may be of interest to customers of BLM. Specialist legal advice should always be sought in any particular case.

Related contacts


Matthew Ford

Matthew Ford

Partner,
London


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