He expects they could rise by another 10% next year. Travel insurance premiums have risen around 10% this year from last year in many European markets as insurers try to claw back COVID-19 losses, said Marcos Alvarez, global head of insurance credit ratings at DBRS Morningstar. TRAVEL INSURANCE PRICES HAVE BEEN RISING. He added that the affected region in Greece is a small part of the overall market. Though price increase for policies can be expected, “the COVID-19 pandemic posed a much more severe and widespread risk for travel insurance – and suppliers did not cut back on capacity,” said Robert Mazzuoli, director in the insurance team at Fitch. They haven’t much so far, according to ratings agency Fitch, which called travel insurance a niche product and said it was too early to see changes in terms and conditions. WILL THE GREEK FIRES AFFECT INSURANCE PREMIUMS AND INSURERS? “The intensity of the fires in Greece is not a reason for ERGO Travel Insurance to change the scope of benefits,” it said. Insurers are increasingly turning their backs on some markets like Florida, prone to hurricanes that insurers forecast will become more intense as the climate warms, and California, where wildfires are common.ĪRE INSURERS RETHINKING COVERAGE DUE TO THE GREEK FIRES?Įrgo said such events have been taking place for decades, and that it was “continuously” assessing the risks. Hurricane Ian in the United States and floods in Australia helped to make 2022 one of the costliest years on record for natural disasters, according to Munich Re, which said losses totalled around $120 billion. WHAT DO NATURAL CATASTROPHES COST INSURERS? It won’t cover cancellation for travellers who decide not to take their trips because of the heat. German insurer Ergo would pay for any additional costs if a traveller couldn’t leave their travel destination due to fire. Aviva would also cover the cost of moving to new accommodation should a booking become uninhabitable due to a wildfire. If someone gets sick due to heat while on holiday, British insurer Aviva, for example, would cover the costs of medical care and getting home if needed. WHAT IF YOU FALL ILL DUE TO HEAT, OR YOUR ACCOMMODATION IS AFFECTED BY WILDFIRES? Travellers should check the exact terms with their individual insurers and tour operators. Travel insurance is “primarily” to protect against high costs of emergency medical care while abroad, according to the Association of British Insurers (ABI). LONDON/FRANKFURT (Reuters) – Wildfires and evacuations on the Greek island of Rhodes, and a heat wave blasting much of southern Europe, have raised questions for tourists about their travel insurance coverage.Īs the threat of fires remains high throughout Greece and heat continues elsewhere at the peak of the summer holiday season, here are some of the key questions and answers: If you’re looking to include a little inspo from Sheeran in your next social media post, these lyrics are a good place to start.By Carolyn Cohn, Sinead Cruise and Tom Sims The song was penned all about how late-night habits with a toxic person, but the lyrics could be interpreted in so many different ways. "It was mega fun getting into character except for the heights (that wasn't so fun).” I wanted the video for 'Bad Habits' to play on the nature of habits in a fantastical way so I decided on vampires," Sheeran said in a press release. "Feels great to be back with my new single. It had been nearly four years since Sheeran last released a solo single, so a lot was riding on the release of “Bad Habits.” On the day he released the song, he revealed the inspiration behind the visual. For Sheerios who can’t get enough of the new song, these Ed Sheeran "Bad Habits" lyrics are perfect for Instagram captions. The video is already going viral with more than 20 million views in its first week, and Sheeran’s lyrics have also made their mark on fans. The pop singer released his new video for “Bad Habits” on June 24 and he was looking absolutely sinister, with fangs and a bright pink suit. Ed Sheeran is back, and he’s returned in vampire form.
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