In light of the rapidly changing and escalating global impact of the coronavirus (COVID-19) outbreak, Cover-More Travel Insurance has announced a suspension of their Cancel For Any Reason (CFAR) add-on product in Australia and New Zealand.
The decision to suspend sales of the CFAR product, for an interim period, will allow the company to assess the risk profile and immediate sustainability with Zurich, Cover-More’s underwriter in Australia and New Zealand.
Cover-More CEO, Asia Pacific, Judith Crompton said “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 are effective from COB Friday 13 March 2020 in Australia and New Zealand.
