Effective March 3, 2021, our insurance company has advised us that we must add the following clause to all international coverage policies, which includes the Travel Guard Program:
No (re)insurer shall be deemed to provide cover, and no (re)insurer shall be liable to pay any claim or provide any benefit hereunder to the extent that the provision of such cover, payment of such claim, or provision of such benefit would expose that (re)insurer to any sanction, prohibition or restriction under United Nations resolutions or the trade or economic sanctions, laws or regulations of the European Union, United Kingdom or the United States of America.
What does this mean?
The clause means that if the US, UK, or a similar government adds sanctions to certain individuals or commodities (i.e., food, items or other goods, etc.) that the policy would normally cover, then Aspen cannot legally pay a claim for those shipments since it would be considered an illegal transaction.
Please download the new application form for the Travel Guard Program here. This new form replaces any previous versions. All other terms and conditions remain the same.