Credit unions to offer travel insurance

Credit unions are to begin competing in the travel insurance market, with the rollout of a new website Coveru.ie.

The Irish League of Credit Unions (ILCU) said the Coveru.ie holiday insurance, which is being offered in conjunction with AIG Europe, offers comprehensive worldwide travel insurance on an individual, couple, group or family basis.

The added advantage for credit unions is that because this is primarily an online offering it is offered at no cost to the credit union, according to ILCU head of insurance Brian Mulholland.

He said a discount will be offered to those taking out travel insurance if they already have private health insurance.

ILCU chief executive Kieron Brennan said credit unions are continuing to look to the future, identifying how they can meet the growing needs and demands of members.

“Our new travel insurance product is our first venture into the insurance market and certainly leaves the door open for us to offer further insurance products like car and home insurance.”