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Available Expert - Insurance companies not covering coronavirus-related trip cancellations

Thursday, March 5, 2020

Queen’s University researcher Korey Pasch is available to comment on Canadian insurance companies not covering coronavirus-related trip cancellations. Two major providers – Manulife and TuGo, are no longer covering new customers who need to cancel their trips due to the coronavirus outbreak.

“As the coronavirus outbreak unfolds we are seeing a number of different impacts in a variety of areas and insurance is no exception,” says Pasch. “The policy changes regarding travel insurance and non-essential travel reinforce the fact that while insurance is in the business of managing risk, they’re also in the business of remaining profitable. One way to protect themselves from catastrophic risk and losses like those potentially stemming from the outbreak of coronavirus is to begin to refuse to provide coverage by changing their underwriting practices. These decisions are part of the economic impacts of coronavirus as the outbreak spreads.”

To arrange an interview, please contact communications officer Anne Craig (613-533-2877 or anne.craig@queensu.ca) at Queen’s University News and Media Services Department in Kingston, Ont., Canada.

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