breakingtravelnews.com
27.04.2024
Dubai flooding chaos could hit trade insurance rates, warns TMU Management
Inbound tour operators and travel providers based in Dubai, or international tour operators and other sellers offering Dubai products, may find that the worst is not yet over as the weather clears up in Dubai. TMU Management, the data-driven insurance intermediary specialising in travel, has today issued a warning to the travel trade they are very likely to see increases in rates when applying for Package Travel Regulation compliant insurance. Sami Doyle, CEO & Co-Founder of TMU Management, comments: “Who’d have thought that flooding could be an operational risk in the middle of a desert? Whilst this may technically be the worst rain in 75 years in the UAE, underwriters are unlikely to forget about that anytime soon. At this early stage it would be hard to say how much of an increase to expect, but for sure it won’t be going down when you mention Dubai. And it could easily go up enough to make sellers think twice when pricing future sales. Certainly we’d advise to expect a noticeable increase.”