ASB gets new travel insurer as Chubb calls it quits

Not everyone is giving up on travel insurance. (Image: Depositphotos)

Wed, 03 May 2023

ASB Bank’s credit card travel insurance cover will be underwritten by AIG from June after the lender said its existing insurer is getting out of the market.That exit comes after a slump in Chubb Life Insurance New Zealand’s travel insurance premiums, which have more than halved from a peak in 2018. Chubb’s travel premiums fell by almost 21% to $6.4 million in calendar 2022 from the prior year, accounting for 2% of the firm’s total premiums in the year. The slide was steep when the covid-19 pandemic hit in 2020...

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