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☆ Insurers are seeking a way to make money from your climate change travel anxiety
▼ + stars: | 2023-10-04 | by ( Ellen Sheng | ) www.cnbc.com time to read: +3 min

More travel and disrupted travel plans have meant more interest in travel insurance, which covers trip cancellation, lost luggage and delays. "The baseline of normal has changed significantly," said Jeff Rolander, vice president of claims at Faye Travel Insurance. More travelers seeking out trip insuranceConsumers are reacting to increasingly extreme and unpredictable natural disasters by more often opting into travel insurance. According to Squaremouth.com, a travel insurance quoting and comparison engine, the travel insurance market has grown significantly since 2020, when travel came to a halt. But increased delays due to extreme weather are also contributing to the growth.

Persons: Jeff Rolander, Squaremouth.com, Nick Lazzari Organizations: Faye Travel Insurance Locations: Rhodes, North America, Mexico

☆ Visa, Mastercard profits expected to jump as travel rebounds
▼ + stars: | 2022-10-20 | by ( Niket Nishant | ) www.reuters.com time to read: +3 min

With more companies resuming business travel and people planning vacations, Visa Inc (<V.N>), Mastercard (<MA.N>) and American Express (<AXP.N>) are likely to see a jump in cross border volume, according to analysts. Cross border volumes are a measure of travel demand reflecting spending on cards outside the country they were issued. American Airlines (<AAL.O>), United Airlines Holdings (<UAL.O>) and Delta Air Lines (<DAL.N>) have also forecast strong profits for the rest of the year, in a sign that travel demand was offsetting concerns about expensive air fares. American Express will report its quarterly earnings on Friday, followed by Visa and Mastercard next week. AmEx shares have dropped 12%, while Mastercard and Visa are down 17% and 14% this year, respectively.

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