Manulife to start providing COVID-19 associated journey insurance coverage product


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TORONTO — Canadian insurer Manulife Monetary Corp will restore some protection for coronavirus-related journey interruptions in a brand new journey insurance coverage coverage that additionally contains COVID-19 in its emergency medical protection.

The coverage will launch in October for Canadians travelling domestically and internationally, together with to nations topic to a stage three journey advisory, Canada’s largest life and journey insurance coverage firm stated on Wednesday.

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Canada has a stage three advisory, which urges avoidance of non-essential journey, for all nations.

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Manulife, in addition to another insurers, stated in March they might cease protecting journey cancellations or interruptions associated to the pandemic because the illness was deemed a “recognized occasion.”

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Manulife’s Canadian core earnings within the three months by March declined primarily as a consequence of larger journey insurance coverage claims at the beginning of the pandemic.

Manulife shares are down 27% this yr, versus a three.6% decline within the Toronto inventory benchmark.

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