Nov. 28, 2022 — U.S. TRAVEL insurer Travelex Insurance Services has expanded into Canada.
The company is operating out of the Queen West area in downtown Toronto and is offering its full services including claims administration and travel assistance to Canadian clients.
It said the expansion will bring opportunities for the company’s long-time and new partners and consumers.
“We’re bridging a gap for our current partners that have operations in Canada with more opportunities for Travelex products and services and we’re working to become a premier travel insurance provider for their Canadian travellers,” said Shannon Lofdahl, Travelex president and CEO.
Headquartered in Omaha, Neb., Travelex Insurance Services was founded in 1996 when the Travelex Group purchased Mutual of Omaha Companies’ travel insurance distribution services. In 2016, Travelex became a subsidiary of Cover-More Holdings USA, which is a subsidiary of Zurich Insurance Group.
“This is an exciting time for Travelex,” Ms. Lofdahl said. “Our expansion gives us the opportunity to serve travellers throughout North America, whether they book travel insurance through a travel professional, tour operator or our website.”
Travelex offers three plans: trip cancellation and interruption, medical only and all-inclusive. It provides emergency assistance through Zurich Travel Assist.
Ms. Lofdahl wrote in this month’s edition of Business Traveller magazine that the pandemic impacted enough prepaid family vacations, dream holidays and honeymoons to convince more people to purchase travel insurance.
She said that over the past year Travelex has seen trip interruption claims more than double.
(For more independent coverage of Canadian p&c industry news and trends, please choose the ‘Subscribe’ tab on our main page or email email@example.com for more information).