Transport strike: travel agencies and insurers on the front Line
In Germany, on Monday April 9, 2018, Lufthansa announced the cancellation of 800 flights. Nearly 90 000 passengers were affected by the strike triggered in four national airports.
In France, the staff of Air France began a cycle of several days of strike. At the same time, the national company of French railways (SNCF) was also disrupted by a major social movement.
These recent examples of transportation paralysis have a knock-on effect on insurers and travel agencies. Trip cancellation insurance which is commonly underwritten by European travellers will result in thousands of claims. The losses could reach tens of millions of dollars.
For their part,travel agencies have estimated the additional costs for the reorganization of cancelled trips at one million EUR (1.23 million USD).
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