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