Don't Worry About Flight Ticket Cancellation Fees... Meritz Launches Insurance with MyRealTrip

Insurance Embedded in Airline Ticket Reservation System for the First Time in the Industry

An insurance service that reduces the burden of penalty fees incurred when canceling overseas airline tickets due to sudden accidents has been launched.

Lee Beom-jin, President of Meritz Fire & Marine Insurance Corporate Insurance Division (right), and Lee Dong-gun, CEO of MyRealTrip, are posing for a commemorative photo after signing a business agreement for partnership on flight ticket penalty insurance at Meritz Tower in Gangnam-gu, Seoul on the 21st. Photo by Meritz Fire & Marine Insurance

Meritz Fire & Marine Insurance announced on the 21st that it has signed a business agreement with MyRealTrip and launched an airline ticket penalty fee assurance insurance.

Domestic airlines impose differential penalty fees based on the remaining days according to regulations from 90 days before departure when customers request a refund for airline tickets.

From now on, customers who purchase airline tickets through MyRealTrip and buy Meritz Fire & Marine Insurance's airline ticket penalty fee assurance insurance can be compensated for penalty fees if they cancel their tickets due to reasons such as the death of a relative within the third degree, hospitalization of immediate family members, pregnancy of the insured or spouse, a doctor's opinion prohibiting travel, job change, or natural disasters at the travel destination.

Customers who wish to refund their airline tickets can immediately claim insurance by clicking the 'Claim Insurance' button on the MyRealTrip My Page and submitting the relevant documents.

Lee Beom-jin, Head of Corporate Insurance at Meritz Fire & Marine Insurance, said, "This product is the industry's first case of directly embedding insurance into the travel agency's airline ticket reservation system."

Not only airline penalty fees but also cancellation fees additionally charged by travel agencies upon refund are covered. From the customer's perspective, this means they can receive a full refund of the penalty fees.

Lee Beom-jin, Head of Corporate Insurance at Meritz Fire & Marine Insurance, said, "The airline ticket penalty fee assurance insurance is the industry's first case of directly embedding insurance into the travel agency's airline ticket reservation system," adding, "Customers can now subscribe to insurance and receive compensation for refund penalty fees with just one click."

Lee Dong-gun, CEO of MyRealTrip, said, "Customers can now prevent unexpected refund penalty fees in advance," and added, "We expect this to play a significant role in improving the experience of customers purchasing airline tickets."