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SYDNEY—Travel insurance is becoming more popular than ever as people get moving again. That isn’t necessarily a good thing for the companies providing coverage.
Global insurers say they are selling more policies and at higher prices as travel rebounds from the pandemic, with take-up among young people particularly strong. Some insurers have expanded coverage to include epidemics and pandemics that were previously excluded, offering protection against flight cancellations, lost baggage and medical assistance overseas.
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