Number of travel insurance policies increases by 9.5%
According to Defaqto, there has been a 9.5% increase in travel insurance policies despite a decline in overseas travel.
Defaqto said that the tenuous state of the economy, belt tightening by consumers, rising unemployment and the lower foreign exchange value of the pound have all combined to reduce overseas travel and demand for travel insurance policies according to a report by independent financial research company Defaqto.
Brian Brown, author of the travel report and head of research at Defaqto, said: “Overseas travel by UK residents fell by almost 16% in 2009 as consumers reined in their non-essential
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