Voyager revenue surges despite recession

by Richard Kilner

Story link: Voyager revenue surges despite recession

Travel insurance specialist Voyager has said that holidaymakers are increasingly turning to financial protection insurance, after a number of high profile budget airline collapses and other failures in the industry.

Over the last year 32 airlines have failed, according to Voyager, with more facing bankruptcy.

As a result of this, Voyager’s WEBroker travel insurance product has seen revenue surge by 87%.

The product’s popularity has also been due to the lack of surcharges for pre-existing medical conditions, and its inclusion of holiday financial protection as standard.

Director Jonathan Buttery explained that even with a 13% decline in overseas trips this year, Britons still travelled abroad 61 million times.

Buttery went on to attribute the rapid rise in interest for financial protection to the recent plethora of travel firm failures.