AIG Travel Update
Dear Travel Advisors:
Due to the global challenges concerning Coronavirus (COVID-19) and travel, AIG Travel will be making an immediate change regarding our Cancel for Any Reason (CFAR) optional coverage.
Today, on most of our policies (state and products variations may apply), we offer a 75%, 70% and a 50% CFAR option. We certainly understand the importance of the CFAR cover during these challenging times and have made the decision to continue the CFAR optional benefit; however, effective March 6, 2020, we will only offer the 50% option with a benefit limit of $25,000 per policy.
We will continue to evaluate the Coronavirus (COVID-19) situation as it evolves, and communicate any future changes or updates.
As a reminder, to secure the CFAR optional coverage, we require:
- Client must purchase an AIG Travel base product where the CFAR optional benefit is available (state and products variations may apply).
- Client must purchase the CFAR benefit in the 15-day purchase window. CFAR is NOT available to be added to any product outside this 15-day purchase window.
- Client must insure the full trip cost on the underlying base product. This includes all prepaid, non-refundable trip costs.
- Client must pay the premium for both the underlying base product and the CFAR optional coverage in full.
- Please note that coverage for CFAR ends prior to the client’s departure and not the day of departure. Depending on the underlying product, this may be 24 to 72 hours in advance.
Advisors may purchase the underlying base product and CFAR optional coverage by utilizing our Agent Link site at www.TravelGuard.com. Also, AIG Travel continues to update our Coronavirus FAQ located here. Please refer back to this FAQ on a regular basis for current updates.