ISA Updates and New Products

Trip cancellation/interruption represents 90 percent of coverage.

Americans spent nearly $1.6 billion on travel insurance in 2008, reflecting a steady growth in sales of some 13% over the last two years, according to the U.S. travel insurance association's new travel insurance market survey for 2006-2008.

Traditional distribution channels such as travel agencies and travel suppliers such as cruise lines and tour operators are responsible for three-quarters of the market, but other channels such as online agencies, airlines, brokers, Internet sites, and direct to consumer sales are growing steadily.

Travel medical and medical evacuation-only policies only cover a fraction of the total market, at 5.5 percent of travel insurance sales, but has increased by about 33 percent since 2006.