Middle East – Travel insurance strengthens growth
Wednesday, 08 23 2017, Category: Insurance and Reinsurance, Country: Middle East
A travel and tourism expert confirmed that the insurance markets of the Middle East have annual premiums ranging between USD 100 million and USD 120 million and will follow the growth trend of the international markets due the increased insistence of the governments to impose compulsory health insurance on travelers.
Mahesh Anchan, chief operating officer of global travel services company Vasco Worldwide said:
“our expectations indicate that the growth in international and regional markets is due to the increase in the cost of health insurance since health care offered to travelers represents a burden on the budgets of governments worldwide.
Therefore, the uninsured visitor or tourist imposes huge financial responsibilities on the budgets of governments. As a solution, governments impose compulsory health insurance on visitors and tourists who visit their territories”.
Source: Al Bayan - UAE