Berkshire Hathaway Travel Protection, part of Berkshire Hathaway Specialty Insurance, has released AirCare, a product in its travel-insurance line designed for travelers, travel agencies, tour operators and travel suppliers.
AirCare is a fixed-benefit flight protection coverage that is available up to one hour before flight departure. The product was developed in response to the worst year on record for flight cancellations in the United States, with nearly 90,000 flights cancelled since December 2013. Berkshire Hathaway Travel Protection uses MyAssist and Insure America, both part of Berkshire Hathaway Specialty Insurance.
AirCare coverage is priced at $25 per trip and pays $1,000 to travelers for tarmac delays of more than two hours; $1,000 if a traveler experiences lost or stolen luggage; $500 if a flight delay causes a traveler to miss a connecting flight; $500 for luggage delayed more than 12 hours; and $50 if a traveler experiences more than a two-hour flight delay. AirCare also includes travel-assistance offerings through MyAssist, an assistance and concierge service.
Berkshire Hathaway Travel Protection is excited to enter the travel insurance business and believes long-term profitability exists in the market, the company said. The introduction of Aircare will put Berkshire Hathaway Travel Protection in a position to satisfy the needs of travelers.
