The State of the Pandemic
The coronavirus is a viral infection officially known as COVID-19. First made infamous in the city of Wuhan in Hubei Province, China, it has proven to be difficult to cure, and even harder to keep from spreading.
The coronavirus has symptoms similar to the flu, affecting the respiratory system. The virus is spread through contact on surfaces or even through pets. Symptoms can take from two days to two weeks to manifest, if they do so at all. More than 82,000 cases have been identified around the world. At least 2,800 people have died worldwide from this particular virus, and as of right now there is no vaccine or specialized medication. Experts are worried that this could become a global pandemic crisis.
The Availability of Travel Insurance
When the coronavirus first became a concern, many people had scheduled and paid for trips to China or were there already. Travel insurance policies had already been taken out, and there was not much change over the next few weeks.
Then on January 21, the COVID-19 virus became a named event, with warnings issued from the CDC. This greatly affected the travel insurance plans available. There is essentially now no travel coverage or health coverage for people traveling to China at this time – at the very least, the terms have drastically changed.
No restrictions have been made concerning other countries yet, but that of course could change. Travel health insurance will typically cover emergency medical care, evacuation and sometimes trip interruption. Different insurers are handling their already-taken policies differently, so those who did not choose the “Cancel for Any Reason” coverage may find themselves out of luck if they choose not to go. Other plans do not include coverage for epidemic or pandemic events. Anyone who finds themselves in need of a travel health policy heading to China will have serious trouble securing such coverage, if they can get it at all.
Until a Cure is Found
In the meantime, sanitary efforts are being made to prevent the spread of the disease. Those who are uncomfortable traveling to other countries out of fear are not being covered by their travel insurance, since the CDC has not issued a warning yet. But if people remain afraid, they will likely cancel and take fewer trips. This will lead to potential hardship for the insurance companies until the disease is finally brought down.
Sources:
https://www.insubuy.com/coronavirus-coverage-international-travel-insurance/
https://www.insuremytrip.com/travel-insurance-plans-coverages/coronavirus-travel-insurance/