Wildfires and Natural Disasters Drive Demand for Enhanced Travel Insurance and Security Advice

Wildfires and Natural Disasters Spark Insurance Demand

Travelers across Asia are increasingly pursuing travel insurance that provides robust coverage against natural disasters and scams, as revealed in a recent survey by Klook. This rising trend goes beyond traditional offerings of medical emergency protection.

Survey Insights on Travel Insurance Preferences

• 38% of respondents highlighted a need for policies that cover losses from natural disasters like wildfires.
• A similar proportion expressed interest in climate-related alerts during travel.

Climate-related crises have substantially impacted tourism, as seen during last summer’s devastating wildfires in Rhodes, necessitating evacuations for thousands.

Changing Definitions of Peace of Mind

Chuan Sheng Soong, CEO of Klook Protect, emphasized that modern travelers now view peace of mind in new ways. "Travelers desire richer experiences yet prioritize their safety against scams," he stated.

Klook Survey Highlights

• Over 40% of Hong Kong respondents are ready to pay HK$1,000 (US$128) for better insurance.
• 15% would opt for premium plans offering maximum security.

Recent alerts in Japan regarding earthquakes have also led to widespread trip cancellations, indicating a need for insurance that covers such eventualities.

Scams and Safety Considerations

• Travel scams, including inflated fees and misleading accommodation offers, are fueling demand for protective measures.
• 42% of surveyed travelers requested specific security advice related to their destinations.

As concerns around leaving home and pets during travels mount, there are emerging opportunities for insurers to broaden their coverage schemes.