Insurance Archives - Page 48 of 67

January 27, 2022

Wisconsin updating travel insurance regulations

Having impact March 1, 2022, Wisconsin’s vacation insurance legislation will classify travel insurance as component of inland marine strains as perfectly as incident and overall health traces if the plan involves illness and incapacity coverage, according to the state’s place of work of insurance coverage.

On top of that, the legislation states intermediaries with authority to promote a home and casualty line are not necessary to be appointed by an insurer to market journey insurance plan. Intermediaries accredited in any important line of authority can promote journey coverage, the Wisconsin Business office of the Commissioner of Insurance plan (OCI) reported.

The regulation also establishes a restricted lines vacation insurance coverage producer license developed for coverage intermediaries and journey directors, which Wisconsin defines as “a human being who immediately or indirectly underwrites, collects charges or premiums from, or adjusts or settles statements of inhabitants of this state in connection with journey insurance policy.”

The regulation also prohibits the use of “negative option” or choose-out processes that demand the purchaser to take an affirmative action to decline coverage when acquiring a trip, OCI documented.

Guidelines for ‘travel retailers’

Organization entities that give vacation products and services can now “offer and disseminate” travel insurance policy in Wisconsin beneath the licenses of a travel coverage producer if they adhere to the adhering to tips:

The purchaser of travel insurance policies is offered expected facts these kinds of as a description of the material conditions and the procedure for submitting a assert.
The minimal traces journey insurance policy producer keeps a sign-up of every single travel retailer that presents and disseminates vacation insurance on the producer’s behalf.
The restricted lines vacation insurance coverage producer designates an staff who is a accredited producer as the human being dependable for compliance with the statutes and guidelines of this condition.
The specified liable worker, the officers of the confined traces vacation insurance policy producer, and any other individual who directs or controls the constrained strains travel insurance policies producer’s coverage functions complies with coverage middleman fingerprinting specifications.
The constrained strains travel insurance policies producer pays all applicable licensing fees.
The limited lines vacation insurance coverage producer requires each staff and approved representative of the journey retailer whose duties contain presenting and disseminating vacation insurance coverage to acquire a software of instruction or instruction.

The law stipulates that journey stores, or their workers and approved reps, which are not accredited confined line travel coverage producers cannot choose the adhering to steps:

Evaluate or interpret technical terms, positive aspects, or situations of travel insurance coverage.
Assess or deliver advice regarding a future purchaser’s present coverage protection.
Maintain himself or herself out as an insurance company, a confined strains travel insurance producer or an insurance policy specialist.

Connected:

January 26, 2022

Average life insurance rates are steady entering 2022

Every month lifetime insurance plan premiums were being secure coming into the new 12 months, in accordance to Policygenius information. (iStock)

The everyday living insurance plan sector has held price ranges secure coming into 2022, according to Policygenius. Most non-people who smoke noticed smaller amount raises of less than 1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} between December 2021 and January 2022, whilst people who smoke failed to see any improvements in their month to month rates.

Average lifestyle insurance policies rates have stayed continuous regardless of a rise in mortality connected to the coronavirus pandemic. Demise reward payouts rose 15.4{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in 2020, in accordance to the American Council of Lifetime Insurers (ACLI). On the other hand, Policygenius facts indicates that individuals really don’t have to worry about mounting daily life insurance policy rates at this time.

Continue to keep reading to find out a lot more about the normal existence insurance charge for every thirty day period, as nicely as how lifestyle insurance coverage rates are determined. If you’re contemplating taking out a daily life insurance plan plan, stop by Credible to get absolutely free existence coverage rates.

IS Long term Daily life Coverage A Good Strategy FOR YOU?

Typical price tag of everyday living insurance by age and gender

Monthly life insurance policies rates remained regular entering the new year, according to Policygenius facts, with a negligible raise from December 2021 to January 2022.

Everyday living insurance plan charges are least expensive for younger policyholders with small well being threats, while costs are inclined to rise with a policyholder’s age. For case in point, it fees $25.56 for each month to insure a balanced 35-12 months-outdated female with a 20-12 months time period existence insurance policies plan truly worth $500,000. That same policy would value $152.23 monthly for a 55-12 months-outdated gentleman in good health and fitness.

Average monthly life insurance rates by age chart

Regular lifestyle insurance coverage rates are also noticeably larger for people who smoke than they are for non-people who smoke. The plan used in the example above would expense $224.46 per thirty day period for a 45-year-outdated person who smokes, in contrast to just $61.05 for a non-smoker of the same age.

No matter a person’s age or overall health score, however, existence insurance coverage premiums have stayed somewhat stable into 2022. If you are shopping for existence insurance, you can look through guidelines and see regular prices personalized to you on Credible.

Life Insurance plan Value BREAKDOWN BY AGE, Time period Size AND Plan Size

How are everyday living coverage premiums calculated?

The monthly expense of existence insurance policy relies upon on a policyholder’s lifetime expectancy. Lifetime insurance companies take a quantity of factors into account, these as age, sexual intercourse, wellness, health care heritage and even leisure hobbies. Individuals who are riskier to insure ought to anticipate to shell out increased regular monthly rates, whilst very low-chance policyholders will price tag considerably less to insure.

To figure out your wellness danger, life insurers may involve you to undergo a health care examination. Health and fitness situations like high blood stress or being overweight can component into the general price of a lifestyle insurance policy.

Rates are also dependent on the form of lifestyle insurance plan you have. Lengthier plan terms will have higher month-to-month prices, even though shorter policy conditions with reduced coverage amounts will be less expensive.

It’s commonly encouraged to purchase lifestyle insurance plan with a protection total equal to 10-15 periods your yearly personal cash flow, in accordance to Policygenius. The plan phrase must be lengthy enough to cover you into retirement age.

For case in point, a 45-yr-previous mom who earns $65,000 yearly may want to think about a 20-calendar year time period policy with a $1 million protection amount. That is about 15 occasions her once-a-year earnings, which may be necessary to choose treatment of dependents if she dies unexpectedly.

On the other hand, a 35-calendar year-outdated married gentleman with no youngsters who earns $50,000 per yr could look at a 30-12 months lifetime insurance plan term with a protection sum of $500,000. That policy is lengthy plenty of to get him to retirement age, and the demise reward amount might be enough to protect bills for his spouse.

When it comes to selecting a life insurance plan, you can find no one particular-measurement-fits-all approach. You’ll will need to contemplate the greatest plan for your lifestyle and money predicament. Get in contact with a monetary professional at Credible to determine your life coverage demands.

Getting Everyday living Insurance policy Though You are Youthful AND Healthy CAN Preserve YOU Hundreds

Have a finance-connected dilemma, but will not know who to ask? E mail The Credible Funds Pro at moneyexpert@credible.com and your issue may possibly be answered by Credible in our Funds Pro column.

January 26, 2022

insurance: Four myths about personal finance fundamentals that can be dangerous for your money

Why can not I obtain insurance policy now, argued my 65-yr-previous friend. It is an unfair world for senior citizens, he lamented. They won’t give you household loans, possibly. Well being coverage is expensive when I need to have it most. Luckily my funds is safe in govt deposits. If force will come to shove, I will do a reverse house loan, he declared. Hold out, I just about screamed. Those people are just way too a lot of misconceptions.

Insurance policies is protection, not for your daily life and your limbs, but for your prosperity. When you start off to build wealth early in lifestyle, you only have the human asset to depend on. You hope to be employed, receive an money and establish some belongings for by yourself. If you have a family members that is dependent on your earnings, their lives also depend on the human asset.

Insurance policy is your software to make certain that the prosperity you approach to develop is there, for you and your family members, should really anything at all happen to the human asset that could impair its capacity to earn an revenue. Your insurance policy proceeds will kick in and make up for you, if there is a reduction of existence or limb. That is why the calculation of how considerably insurance policy you want considers the income, the devote and the price savings. You pick the goal you want to set for your wealth.

That is why insurance policies is necessary earlier in everyday living. To act like a shield that guards your prosperity. It is not an expenditure, even if it is marketed as such. It progressively receives high priced to obtain insurance if you want it to also operate as an financial investment. Time period insurance coverage is the least expensive due to the fact it serves the main intent of presenting a lump sum funding to your dependents if you had been to go absent. If you feel you ought to offer for your child’s larger education, you have the possibility of evaluating a time period insurance coverage and an expense product or service independently prior to bundling the two with each other. We digress.

My good friend will not will need insurance policies when he is 65 simply because he has pretty much arrived at the close of his earning phase. Ideally, he would have plenty of assets saved for his retirement and previous age. It would be the two pricey and superfluous to consider and purchase an additional include of the identical price. My good friend need to know that he needs no insurance coverage if there is ample accrued prosperity. That he is getting older and is a higher threat to the coverage enterprise is the insurer’s aspect of the tale.

That he finds it high-priced to obtain health insurance policy is an extension of that story. We are living by that transition in India when health and fitness care is overtaken by company passions and insurance coverage companies. Therapy solutions are needlessly elaborate and high priced to feed the profits targets of support suppliers. It is hard to locate an economical health insurance selection for an elder who also suffers pre-present medical conditions. My good friend raises a fair issue, but solutions have to await an additional column for the area that question needs.

Now to the household mortgage. A financial loan is only a facility to use tomorrow’s income these days. It is always an highly-priced choice to training. The curiosity on the loan is the price to spend for this facility. A mortgage is handy when there is more than enough profits to pay an installment but not adequate wealth to purchase the asset nowadays. Most would not have been capable to personal a home if not for this facility, even if it will come with a price. The lender will care mostly about the worth of the asset getting funded and the skill of the borrower to repay.

My pal at 65 does not require this highly-priced alternative. He has plenty of funds in his retirement corpus to be in a position to buy whichever he demands. If he have been to use his belongings as collateral, he could still get a loan. But he would have to repay it from his financial investment cash flow, now that he is retired. The math will not operate out. His belongings may earn a return that is reduce than the interest level on the bank loan. It won’t make feeling to get a mortgage his focus should be on optimizing the return on his investments and property and taking on an earnings and spending orientation, fairly than hoping to create new assets.

That brings us to his investments. There is practically nothing wrong with maintaining one’s revenue with the federal government. Lending to the federal government is the technically proper detail to say. Safe and sound, as my friend appreciates. But that is why the govt will get away with having to pay the lowest fee of fascination. In the lending sector, the charge at which the authorities borrows is the foundation charge. No one particular can borrow less costly than that. There is no questioning the skill of the government to honor its obligation to shell out the desire and return the principal. It can unilaterally increase taxes borrow overseas and in the worst scenario print dollars. But that is the borrower’s aspect of the tale.

As a loan company, my pal ought to talk to irrespective of whether he is staying as well conservative settling for a lower fee of return. The answer is not to swing wildly to lend to the neighborhood finance enterprise that is presenting an eye popping price. Many reasonable choices exist in the middle. Controlling the retirement corpus needs a strategic method to allocating how substantially will be invested where by. Some quantities for development in fairness property, some in top quality income assets that supply a great interest, some for security and protection, and some for straightforward withdrawal and use. A blend that keeps pitfalls small and returns optimum. Blindly deciding on one particular form of investment is clearly suboptimal for possibility and return.

Now to the last bombshell about reverse home loan. The product is basic. Rather of getting a personal loan and creating an asset, you sell the asset in progress to get pleasure from an revenue stream. The loan company buys your household for a cost currently, but agrees to pay out you a monthly installment for several several years, at the finish of which they choose around the dwelling. You keep on to live in the dwelling, while earning an earnings. Reverse house loan is a distress alternative not a typical 1. You give up the appreciation in the benefit of your house, in return for an cash flow you desperately need to have. If you have only a household as an asset and no other wealth or cash flow, reverse mortgage is your last choice. Don’t deal with it like a frequent alternative for profits.

All these are pretty straightforward and much recurring essential ideas. But it is scary to see that a lot of maintain these notions with great conviction.

(The author is Chairperson, Centre for Financial commitment Instruction and Mastering.)

January 24, 2022

Tech Mahindra Acquires CTC, Invests In Cyber Insurance Business

by Joe Panettieri • Jan 23, 2022

Tech Mahindra has obtained CTC (Com Tec Co IT), an IT solutions and provider supplier for prospects inside the insurance policy and economical expert services verticals. The buyout selling price was US$352 million. A valuation based on EBITDA a number of was not disclosed.

This is technologies M&A offer amount 100 that ChannelE2E has protected so far in 2022. See far more than 1,000 technological innovation M&A bargains for 2022, 2021 and 2020 outlined below.

In connected moves, Tech Mahindra invested a mixed US$22.7 million to get 25 per cent of these two InsurTech providers:

SWFT, which is a SaaS-primarily based digital purchaser engagement system for coverage income & distribution.
Surance, which is an conclusion-to-close personalized cyber coverage resolution that focuses on vulnerability assessment, cyber security, and cyber insurance policy coverage.

Tech Mahindra Acquires CTC: Offer Facts

Tech Mahindra is dependent in Pune, India. The global IT providers and program enhancement corporation has 125,000 personnel throughout 90 nations around the world.

CTC has growth centers in Latvia and Belarus. The CTC team specializes in plan administration, enterprise architecture, electronic user working experience style, small business and technique evaluation, electronic engineering/digital platform progress, cloud engineering, examination automation, secure operations and DevSecOps. The acquisition will also assist Tech Mahindra to scale its European presence with around 700 IT gurus, the consumer reported.

In a prepared assertion about the deal, Vivek Agarwal, president of BFSI, HLS, and corporate improvement, Tech Mahindra, mentioned:

“The Insurance coverage field is now going through a sizeable transformation which is driven by new emerging enterprise products, that are powered by disruptive electronic technologies. In order to allow this digital transformation, we are investing in strengthening our abilities to aid insurers in accelerating their transition to cloud-based platforms and deliver stop-to-end engineering with a powerful European nearshore existence. We welcome the CTC team into the Tech Mahindra spouse and children, and we hope to realize sizeable industry and services line synergies as a result of this mix.”

Extra Avraham Shaked, co-founder of CTC:

“Since our inception around 20 many years back, we have scaled sustainably fully through customers’ tips and delivered award-profitable strategic answers for them in the insurance coverage and reinsurance business. Turning into a aspect of a worldwide entity like Tech Mahindra will give us fast obtain to world scale and generate a remarkable expansion and development chance for our persons and the company.”

Tech Mahindra: Earlier IT Services Acquisitions

Tech Mahindra has been lively on the M&A entrance. Previously bargains include obtaining cloud consulting organization and Microsoft associate Brainscale for US$28.8 million Eventus Remedies Group for $44 million and DevOps companies service provider DigitalOnUs for $120 million.

January 23, 2022

Your Business Needs Insurance | Foley & Lardner LLP

Several startups understand coverage as a luxurious, shelving it until eventually they are further along in the company’s lifecycle. Nevertheless, any business enterprise really serious about sustainable expansion really should not postpone this decision.

There is normally a risk is involved in the method of starting up and developing a company. Possessing sufficient insurance coverage is vital to the results of your small business and an difficulty each and every company owner requires to contemplate. Organization insurance plan for startups provides useful protection in opposition to the unanticipated. Without having protection, threats like theft, hearth, details breaches, or lawsuits could disrupt or hurt your enterprise.

After you have an understanding of how insurance is crucial to your enterprise, you will be greater positioned to decide how much of it you will need. Company house owners need to weigh the price of insuring towards different threats and the economic impression of an uninsured reduction.

Functioning a organization will come with inherent hazards. Shielding your belongings is essential, yet several new organizations frequently have insufficient insurance policy. How much insurance policies need to a new business proprietor safe, and what are the liabilities for getting uninsured? That all relies upon on the demands of the organization.

The startup ecosystem is various and may perhaps or may perhaps require distinctive sorts of protection. For instance, startups that work in the software package location will have to safeguard by themselves most from client lawsuits alleging experienced liability. Startups working in biotech, proptech, or fintech confront regularly shifting and frequently unclear regulatory prerequisites may well need to have to concentrate on compliance to start with.

Considerate diligence is desired in the course of the course of action of determining on the type of organization insurance your startup requires. What variety of insurance policies ideal matches your startup? What is the acceptable total of protection? Do I require insurance policy this early in the match? Below are a handful of good reasons your business enterprise ought to have insurance coverage:

The Legislation Calls for it

The Regulation involves firms with staff members to have specific forms of insurance policy: Unemployment, workers’ compensation, and disability are a couple of.

Failure to carry demanded coverage could consequence in fines, penalties, and “cease and desist” orders.

You Could Get Sued

If a legal responsibility claim or a lawsuit is submitted versus you and your organization is without insurance policies, there could be severe and quite pricey implications. Even winning could lead to you to go out of small business owing to the expense of authorized defense. Legal responsibility insurance plan allows you to focus on what you do finest, managing a worthwhile business enterprise.

Insurance policies Retains You Up and Managing

What transpires if your business enterprise is impacted by an earthquake or flood? P&C insurance policies covers loss of property, devices, etcetera., revenue misplaced all through a company closure. Company House owners Coverage (BOP) can engage in a critical position and enable a business survive defending towards income reduction. BOP also compensates for each day operating costs you might have or else incurred during that time. Some firms pick to insure lost money and consist of security to pay back workers for up to 12 months.

Essential in Contracts

Some variables appear into play when it will come to insurance policy and contracts: If you lease or hire, the landlord’s policy may not cover you, and you may possibly need to have insurance coverage. The loan agreement likely has an insurance plan requirement if you borrow income to finance properties, machines, or operations. Consumer contracts could specify that you have insurance policies.

Prevalent sorts of insurance policy companies should really contemplate:

Workers’ Payment Board (WCB)

Your enterprise is expanding. How do you know if it is time to safeguard it with workers’ payment insurance plan? Most organization functions will be needed to have workers’ payment coverage. This handles workers’ healthcare and wage-reduction expenses if an worker is wounded or contracts an occupational illness even though on the job.

Administrators and Officers Insurance policies

D&O insurance is for businesses that are integrated. In normal, D&O insurance coverage presents protection from the wrongful functions committed by directors and officers. Are you on the lookout to elevate dollars? Lots of institutional buyers, such as undertaking money firms, stipulate that a D&O plan must be in put as portion of the time period sheet in advance of the funding is full.

Employment Practices Liability Insurance policies: As your company commences choosing, take into account EPLI Insurance policies. EPLI guards your business from work-connected lawsuits such as sexual harassment, discrimination, wrongful termination, and far more.

Technological innovation Errors & Omissions Insurance coverage: A startup offering experienced providers centered on skilled know-how need to consider E&O insurance which safeguards towards promises that allege damages arising from technology solutions you have furnished. Your consumers and associates may even demand it.

Fiduciary Legal responsibility Insurance policies: If your company features personnel rewards such as wellness insurance plan, stock alternatives, and other rewards, you almost certainly have a man or woman dependable for handling these positive aspects. FLI safeguards your organization and your personnel if a person accountable for these added benefits tends to make a oversight for which they can be held liable.

No business operator can predict what could transpire down the highway. In a best globe, normal disasters, accidents on the task, or lawsuits in no way came to go, but there is no assurance that this kind of things will not likely happen. For that cause alone, it is greatest to have your business insured.

[View source.]

January 23, 2022

Here’s how travel insurance can help during the COVID-19 pandemic

The travel industry was among the first to feel the damaging effects of the COVID-19 pandemic.

After travel bans were implemented during the early stages of the outbreak, international tourist arrivals declined in 2020 globally, with 1 billion fewer travelers compared to 2019, according to the World Tourism Organization.

Since then, travel industry experts have predicted that there would be an increase in passengers from 2020, signaling a recovery from the financial hit taken over the last two years as people desire to make up for lost time.

“People are booking their trips further out,” said Amanda Coppola, the branch manager at the Mann Travels Arboretum location in Charlotte. “With cruises, you can book them two years out, so I do have a lot of cruises for 2023 already on the books.”

In addition to wearing a mask in airports and on other transportation hubs to protect from COVID-19, travel insurance is recommended for travelers to cover unexpected delays or trip interruptions.

What is travel insurance?

Travel insurance is coverage designed to protect against risks and financial losses that could happen while traveling.

What does the insurance cover?

Depending on the coverage you select, travel insurance can cover a variety of damages and losses, including:

Injury or sickness: Travel insurance can help cover medical expenses that are not covered by your health insurance plan. Most health insurance plans don’t provide full coverage in foreign countries.
Lost luggage: Travel insurance can help cover expenses stemming from lost luggage. This can be useful when an airline loses your bags since it can be difficult to get reimbursed.
Last-minute cancellations: Most resorts or cruise lines won’t give you a full refund when you cancel. Some resorts charge cancellation fees if you cancel more than two weeks before your trip, and most will not give you any refund if you cancel within two weeks.

Many airlines also offer pre-departure waivers, Coppola said, which allows passengers to revise or cancel their bookings at any time and receive a full refund for the cost of their trip.

“It really protects their investment and gives them peace of mind that they can get their money back if they feel unsafe, or if something comes up like a positive COVID-19 test,” she explained.

How much does coverage cost?

Travel insurance typically costs five to 10{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of your total trip cost. The amount can be influenced by several factors, including your age, how much you’re spending on the trip, the amount of coverage you’re choosing and the number of people covered under your policy.

“Sometimes it can be as low as $100 per person, and that’s a very low price when you’re looking at a trip that’s $5,000, since you can get your money back,” Coppola said.

The most important factor in determining pricing in trip cancellation coverage is age, according to Berkshire Hathaway. The older you are, the more likely you may be forced to cancel your trip.

Trip cancellation makes up a large part of most companies’ claims. A trip where the upfront cost is extremely high means the company would have to reimburse you more if that trip were canceled.

Other factors that impact prices

The number of travelers: A single travel insurance policy can cover multiple family members on the same trip, however, some companies offer family-friendly packages.
Destination: When determining rates, the destination is a factor for some insurance companies. Companies may examine crime statistics and injury rate for tourists when setting their prices.
Trip length: There is a higher chance that something will happen to you on a longer trip. Longer trips also tend to be more expensive trips taken by more exotic destinations, often with many people covered under the same policy.

Airline cancellation policies

After the pandemic essentially halted air travel for months, major airlines in the U.S. implemented policies to give passengers more flexibility to change or cancel them.

Allegiant Air: As of May 21, 2021, Allegiant’s change/cancel fee has been reduced to $25 per person, per flight segment. A flight segment is one takeoff and one landing.
Alaska Air: The airline’s policy allows travelers to change or cancel their tickets if they were purchased on or before April 30, 2021. Tickets must be changed or canceled prior to the departure of your original flight. If you purchased tickets through a third party, contact them directly.
American Airlines: The airline has eliminated change fees for short-haul international and select long-haul international flights. Basic Economy fares bought on or after April 1, 2021 are non-refundable and non-changeable.
Delta Air Lines: Customers who purchased Basic Economy tickets on or before April 30, 2021 can make changes or cancel their tickets and receive an eCredit. Cancellation fees and change fees do not apply to these tickets. Tickets purchased in 2022 can be canceled, but are subject to a cancellation fee that will be deducted from the value of your ticket.
Frontier Airlines: Change and cancel fees have been waived for bookings made through March 31, 2021. Fees for flights booked from April 1-July 26 are waived if changes or cancellations are made more than 60 days prior to departure.
Hawaiian Airlines: Any Main Cabin or First Class ticket purchased or expiring in 2021 now won’t expire until Dec. 31, 2022. Main Cabin Basic tickets purchased between Aug. 17-Oct. 31, 2021 for travel on or after Aug. 17, 2021, May 1-Aug. 16, 2021 for travel on or before Oct. 31, 2021, between Jan. 1-April 30, 2021 and tickets purchased between March 1-Dec. 31 2020 can be changed without a fee.
JetBlue: Change and cancel fees for customers traveling through Jan. 31 will be waived. A few airports in the U.S. and abroad have specific change/cancellation fee policies.
Southwest Airlines: Southwest has a policy of not charging change or cancellation fees. Non refundable tickets not flown on the travel date, but canceled in accordance with Southwest’s No Show Policy, can be applied for future travel for up to one year from the original purchase date.
Spirit Airlines: Flight changes can be made 60 or more days in advance without fees. Changes made seven to 59 days prior to departures will incur a $49 fee, three to days prior incur a $79 fee and zero to two days from departure incur a $99 fee.
United Airlines: Change fees for most economy and premium cabin tickets for travel within the U.S., or between the U.S. and Mexico or the Caribbean have been removed. Redeposit fees for award flights are also being waived.

Is booking a cruise now still a safe option?

Although cruise lines have started operating again, the CDC recommends avoiding cruise travel, regardless of vaccination status, as the chance of contracting COVID-19 on a ship is “very high.”

While it may not be a good time to board a cruise ship, Coppola said those looking to travel on the water over the next couple of years should book now, since many cruise lines have implemented variable cancellation policies due to the spread of COVID-19.

“Now is a good time to book everything because the prices are so low,” said Coppola. “If they need to change from going to Europe to the Caribbean, it’s super easy. There’s a lot of flexibility with all of the cruise lines.”