Insurance Curator Paris — Travel and event insurance sales have surged across Europe and other advanced economies in recent months as a wave of geopolitical flashpoints and a punishing run of storms and transport disruptions prompt travelers and organisers to buy higher‑priced, broader protection — even as insurers tighten exclusions and raise premiums for riskier destinations, industry data and interviews show. Who: travelers, tour operators and event organisers; What: a spike in demand for travel and event cancellation, medical and “cancel‑for‑any‑reason” protection; When: since 2024 and intensifying through 2025 into early 2026; Where: across Europe and in major first‑world markets including the United States and the United Kingdom; Why: growing government “do not travel” advisories, regional conflicts and an unusually active storm and disruption season have amplified perceived and real risk, pushing buyers toward more expensive, sometimes narrower, cover. (marketscreener.com)
Inverted‑pyramid summary
- Demand: Online marketplaces and brokers report double‑digit jumps in quote requests and sales of comprehensive and “cancel for any reason” (CFAR) products after high‑profile geopolitical events and storm outbreaks. (forbes.com)
- Underwriting response: Insurers headquartered in major markets — including Allianz, AXA and Zurich — and large brokers say they are adjusting underwriting, pricing and policy wordings, while some lines carve out war and political‑violence exposures and require stricter pre‑travel underwriting or add-ons for high‑risk destinations. (skift.com)
- Loss drivers: An uptick in severe convective storms, windstorms and winter weather has increased claims for ruined trips, flight cancellations and evacuation costs; reinsurers and trade groups warn the frequency of secondary perils keeps upward pressure on the industry’s loss experience. (aon.com)
- Consumer impact: Travelers face higher prices for optional add‑ons such as CFAR and medical evacuation, while many standard policies explicitly exclude losses tied to war, civil unrest or travel against government advice — narrowing protection precisely when demand for it is rising. Consumer groups say that leaves vulnerable travelers exposed and confused. (which.co.uk)
What the data and the market show
Major distribution platforms and brokers have recorded sudden spikes in interest after specific news events. Squaremouth, a U.S. comparison marketplace, said quote requests jumped sharply in early January 2026 following a high‑profile U.S. military operation in Venezuela; Squaremouth’s surge was mirrored by a near‑doubling of quote interest on some digital travel apps, according to reporting by Forbes. Hopper, another booking platform, told Forbes that purchases of trip‑protection products rose by roughly two‑thirds over the same weekend. Those short‑term spikes reflect a broader trend: InsureMyTrip reported a 32% year‑over‑year rise in quote activity between January and April 2025 versus the same period in 2024, and individual insurers reported modest increases in sales of higher‑end plans through summer 2025. (forbes.com)
Insurer executives and industry analysts say the surges are concentrated in two kinds of demand. First, individual leisure travelers are increasingly adding CFAR, higher medical limits and evacuation cover to itineraries that have grown more expensive; brokers say CFAR lift premiums materially — sometimes by 40% or more. Second, corporate and event buyers — concert promoters, sports organisers and conference planners — are shopping for bespoke event‑cancellation and political‑risk packages that cover venue closures, travel bans and sudden upheaval. “We’ve seen clients ask for bespoke political‑risk and terrorism wording as a matter of course,” said a London‑based broker who handles large festivals. (itij.com)
Why geopolitics matters now
Government travel advisories and “do not travel” lists have a direct, immediate effect on coverage. Insurers in Europe, the U.S. and the U.K. generally require policyholders to follow official travel guidance; if a national government issues a Level 4 or “do not travel” warning, claims for cancellation or curtailment tied to the advisory will typically be denied. National travel‑advice pages and maps maintained by the U.S. State Department and Britain’s Foreign, Commonwealth & Development Office (FCDO) show dozens of countries or regions under high‑risk warnings as of late 2025 and early 2026 — from parts of Ukraine and Gaza to fragile states in Sahel Africa and political flashpoints in Latin America — a web of designations that complicates underwriting. Industry players said that both the frequency and visibility of those advisories push travelers to buy protection in advance — but simultaneously restrict the payout criteria. (travel.state.gov)
“We are seeing a much higher proportion of customers buying enhanced protection because they don’t want to be left out of pocket if tension escalates,” said Anna Kofoed, Allianz Partners’ head of travel, in public comments and event appearances last year. Executives at other major markets say the same: demand is up, but the availability of cover for politically sensitive destinations is often limited or comes with stricter terms. (skift.com)
Storms, flights and the cascade into claims
Europe’s winter and storm seasons in late 2024–2025 and into early 2026 brought a concentrated string of windstorms, heavy snow and localized flooding that snarled airports, ferries and rail links. Major hub disruption in January 2026 — with hundreds of cancellations and widespread delays reported across London, Amsterdam, Paris, Madrid and Munich on successive days — produced thousands of delay and missed‑connection claims and a fresh wave of policy purchases by travelers worried about the next disruption. Reinsurers and analytics firms say the pattern — more frequent secondary perils such as convective storms, sudden floods and atypical windstorms — drives claims that are both numerous and expensive relative to historic experience. (thetraveler.org)
A broader insurance context: rising losses, tighter reinsurance
Reinsurers and market analysts point to a multi‑year rise in insured natural‑catastrophe losses and to reinsurance pricing dynamics that bleed into primary insurers’ pricing decisions. Aon’s 2026 property‑and‑casualty outlook warned that secondary perils and “atypical” events are producing elevated loss numbers for markets worldwide and that insurers are having to factor higher expected volatility into pricing and capacity decisions. Global reinsurance renewals, while more stable than in the immediate post‑pandemic shock, remain a lever that can tighten capacity for specialty travel and event lines. That increased cost of reinsurance and the operational cost of handling volatile, high‑volume claims is one reason some carriers are raising premiums, narrowing benefits or marketing higher‑price “travel companion” services alongside traditional indemnity cover. (aon.com)
How policy wordings and exclusions are shifting
Insurers have long excluded “war, hostilities and acts of armed conflict” from standard travel policies. But coverage carve‑outs are becoming more detailed and, in some cases, more restrictive. Consumer‑facing investigations and complaints bodies have documented denials where policyholders tried to claim for trips affected by rising unrest or by travel to areas where governments had warned against travel. In countries including Australia and the U.K., analysis of product disclosure statements shows most major travel policies expressly exclude war, civil commotion and consequences of travel against government advice — though some insurers may offer limited medical or evacuation assistance on an exceptional or discretionary basis. Consumer advocates warn that the combination of rising conflict‑related headlines and fine‑print exclusions is producing a “protection illusion” for many buyers: large numbers of travelers believe they’re covered for all disruption, when, in fact, key scenarios are carved out. (traveltalkmedia.com.au)
“We’ve seen high emotion at the point of purchase, and then customers shocked by what their contract actually says,” said Jo Rhodes, a consumer‑rights specialist quoted in coverage of travel disruption. Industry spokespeople counter that transparency about exclusions is improving but accept that the market needs clearer signposting at point of sale. (cnbc.com)
The premiums question — who pays more, and why
Price trends differ by market, trip type and traveler profile. Comparison‑site data and bespoke studies show that average travel premiums remain a modest percentage of trip cost for healthy, younger travelers, but premiums jump markedly with age, for high‑value itineraries, when CFAR is added, or for trips involving high‑risk regions. Which?, the U.K. consumer group, found in 2025 that declaring a pre‑existing medical condition can raise premiums sharply — sometimes by hundreds of pounds — and that some customers report being priced out. Brokers say CFAR, higher evacuation limits and specialist political‑risk endorsements are the fastest‑growing revenue lines, and the premium elasticity (what customers will pay) depends on disposable income and the perceived severity of recent headlines. (which.co.uk)
Event insurance and corporate buyers: a hardening market
Promoters of large events — from concerts to trade shows — are facing a more constrained market for cancellation and political‑violence cover. Underwriters now demand more granular scenario analysis (flight corridors, on‑site security, local government readiness), and some reinsurers have tightened capacity or increased rates for mass‑gathering covers that include political risk or terrorism. Specialist markets in London and Europe are responding by offering tailored terrorism/political‑risk products, but at higher prices and with sharper trigger language. “Event buyers are shopping earlier and asking for parametric triggers or hybrid structures that pay quickly if a specified threshold is reached,” said a market source who places insurance for live entertainment. (lmp-insurance.com)
Consumer protection and the policy gap
Regulators and consumer groups are scrutinising the gap between expectations and the fine print. The combination of rising take‑up of travel protection and narrower coverage for the most‑visible risks fuels calls for clearer labelling and standardised language on travel‑risk exclusions. In the United Kingdom and the European Union, consumer bodies have pressed for better comparability at point of sale; in the United States, private comparison portals say they are investing in clearer advice tools and pre‑purchase checks. Industry executives acknowledge the problem and say improved digital tools — apps that aggregate government travel advice, real‑time risk alerts and policy comparators — are part of the solution. (insuremytrip.com)
What travellers and organisers should do
Experts advise that travellers:
- Check official travel advisories (U.S. State Department; FCDO/GOV.UK) and the policy wording for any “do not travel” or government‑advice exclusions before buying. (travel.state.gov)
- Consider CFAR and medical‑evacuation add‑ons for high‑value trips, but budget for higher premiums. (itij.com)
- Buy early and keep documentary evidence if authorities change advice or carriers cancel services.
For event organisers, brokers recommend early placement, careful vendor contract terms that allocate cancellation risk clearly, and exploration of parametric triggers that pay on predefined metrics rather than on protracted indemnity claims.
Conclusion — market at a crossroads
The travel‑and‑events insurance market in wealthy economies is navigating a new equilibrium: higher demand from risk‑aware consumers collides with greater underwriting conservatism and the economic reality of rising natural‑catastrophe and political‑risk losses. That tension is driving innovation — parametrics, integrated assistance platforms and bespoke political‑risk covers — but also a sharper split between what mainstream products cover and what only more expensive, specialist endorsements will protect. Regulators, consumer groups and market participants face the immediate challenge of ensuring that customers understand the limits of their policies even as they rush to buy them. As one broker put it succinctly: “People want certainty in an uncertain world; the insurance industry can help — but only if buyers and sellers both agree what ‘help’ actually means.” (Broker comment via industry interviews.) (aon.com)
Sources: Reuters; Forbes; InsureMyTrip; Squaremouth; Aon; Swiss Re Institute; U.S. Department of State travel advisories; GOV.UK travel advice; industry trade reporting and insurer statements. (marketscreener.com)