LATVIA: insurers received three times more travel insurance claims y-o-y

1 September 2022 — Marina MAGNAVAL
In July, Riga Airport served twice as many passengers as a year ago. Insurance companies in Latvia have received three times more claims under travel insurance. Although the intensity of tourism has not yet returned to the pre-Covid level, this summer is very active for both travelers and insurers, said Janis ABASINS, president of the Latvian Insurers' Association.

There has been a significant increase this year, with 40% more claims due to flight delays, and this is largely directly related to the chaos that is now happening at European airports.

Volumes have therefore increased by almost 100% for travel insurance, travel insurance premiums have grown several times, by 270%. However, insurers cope with this burden quite normally, as they understand this is a post-Covid effect and is a short-term problem, Janis ABASINS explained.

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