Cover-More suspends Cancel For Any Reason product in Australia and New Zealand

Sydney, Australia, 13 March 2020: Cover-More Travel Insurance has announced a suspension of their Cancel For Any Reason (CFAR) add-on product in Australia and New Zealand in the wake of the rapidly changing and escalating global impact of the coronavirus (COVID-19) outbreak.

Cover-More CEO, Asia Pacific, Judith Crompton said Cover-More has made the decision to suspend sales of the CFAR product for an interim period while the company assesses the risk profile and immediate sustainability with Zurich, Cover-More’s underwriter in Australia and New Zealand.

“Cover-More is very proud of our CFAR product which we have pioneered in Australia and New Zealand since April 2018. And we absolutely want it to build into a long-term sustainable feature of our travel insurance offer in the Australian and NZ travel markets.”

“We have not taken this decision lightly and we stress that we hope this suspension will enable us to keep CFAR in market in the longer term.”

“We are in unchartered waters and unprecedented times for the travel industry with the global impact of the coronavirus (COVID-19) outbreak and we will continue to do everything we can to support our travel agents and partners and Australian and New Zealand travellers,” Ms Crompton said.

Suspension of CFAR sales will be effective by end-of-day Friday 13 March 2020 in Australia and New Zealand.

ENDS

For further information, please contact: Angela Cross, Pilot PR +61 412 929 397 or angela@pilotpr.com.au

About Cover-More Group
Cover-More Group is a global specialist and integrated travel insurance, medical assistance and employee assistance provider. Cover-More is the leading travel insurance provider in Australia and has longstanding partnerships with major travel agency networks including Flight Centre Travel Group, Helloworld Travel, Travellers Choice and Phil Hoffmann Travel. Cover-More has operations in 22 countries across five continents with leading market positions also in Ireland, India, in the USA where the group owns Travelex Insurance Services, and in Latin America with Travel Ace Assistance and Universal Assistance. Cover-More Group was acquired by Zurich Insurance Group in 2017.