Chubb Launches Flight Delay Insurance in Australia
SINGAPORE - Chubb has announced the launch of Flight Delay Insurance, an insurance cover for air travellers. Partnering with Swiss Re and FlightStats, the insurance is available through the Chubb Connect App which was launched in October last year.
Flight Delay Insurance provides fixed compensation for inconvenience when a flight is cancelled, diverted or delayed.
Chubb says that, typically, for a standard travel insurance plan, a payout is only possible when the flight delay is more than six hours, and for a specified loss, such as extra accommodation.
With Flight Delay Insurance, a delay of as short as 30 minutes will trigger a fixed payout.
There are three policy options ranging from 30, 45 and 60 minutes; any one of these will trigger a payout of $100 for the affected customer. Flight cancellations and diversions automatically trigger a similar payout.
The payout is usually processed within an hour, but at the latest, within 72 hours of arriving at the destination airport.
Swiss Re validates the incidents in real-time using data from FlightStats, a provider of real-time global flight data to consumers and the travel industry.
Once Swiss Re has confirmed the incident, United Networks will pay the amount directly into the customer's PayPal account without the customer having to obtain any reports from the airline to file a claim. www.chubb.com.au (ATI).