HUNT VALLEY, Md.--(BUSINESS WIRE)--Arch Insurance today announced that Backroads, the leader in active travel, has selected Arch RoamRight as its primary travel insurance provider. Backroads travelers now have access to Arch RoamRight’s travel insurance products and award winning customer service and claims teams when they book travel through Backroads.
As the travel industry continues to recover from the effects of the COVID-19 pandemic, the availability of travel insurance is a key contributor to the planning and decision processes for many travelers. Arch RoamRight’s products offer protection against unused prepaid, nonrefundable trip deposits caused by covered trip cancellations and interruptions, as well as medical emergencies. Such policies marketed are underwritten by Arch Insurance Company.
“The Backroads active approach to travel creates exciting opportunities to see the world,” said Cory Sobczyk, VP of Business Development, Arch Insurance. “We’re pleased that Backroads now offers our travel insurance products through their website and trained advisors to their valued customers.”
Backroads’ travelers interested in purchasing Arch RoamRight’s travel insurance to help protect their travel plans can work with their trained travel advisors to understand and purchase coverage that meets their specific travel needs.
“We’re thrilled to be working with Arch as they have demonstrated a track record of exemplary customer service, technology innovation and responsiveness,” said Avery Hale, Director of Sales, Backroads. “Arch Insurance provides our guests with confidence, knowing that their travel investment is protected if an unexpected event requires them to cancel or interrupts their trip for any covered reason included in their policy.”
About Arch Insurance North America
Arch Insurance North America, part of Arch Capital Group Ltd., includes Arch’s insurance operations in the United States and Canada. Arch Capital Group Ltd., a Bermuda-based company with approximately $15.8 billion in capital at March 31, 2021, provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries.
About Arch RoamRight
Arch RoamRight (www.RoamRight.com) is the co-branding of Arch and RoamRight® marks used by Arch Insurance Company to market its travel insurance that insures U.S. residents traveling around the world. From trip cancellation to travel medical insurance plans and an award-winning mobile app and website, Arch RoamRight™ is an industry leader in innovation and technological solutions. In 2020, Arch RoamRight won multiple Travel Weekly Magellan Awards, and was named a Best Places to Work by Business Intelligence Group.
Backroads was founded in 1979 by Tom Hale and has been a leading innovator in active and adventure travel for over 40 years. The company runs biking, walking & hiking, multi-adventure, family, private and active ocean & river cruise trips in hundreds of locations across the globe. Backroads hosts thousands of guests each year, 75% of whom are repeat guests or referrals from past guests. For more information, please visit backroads.com.
Cautionary Note Regarding Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. This release or any other written or oral statements made by or on behalf of Arch Capital Group Ltd. and its subsidiaries may include forward-looking statements, which reflect our current views with respect to future events and financial performance. All statements, other than statements of historical fact, included in or incorporated by reference in this release are forward-looking statements.
Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or their negative or variations or similar terminology. Forward-looking statements involve our current assessment of risks and uncertainties. Actual events and results may differ materially from those expressed or implied in these statements. A non-exclusive list of the important factors that could cause actual results to differ materially from those in such forward-looking statements includes the following: adverse general economic and market conditions; increased competition; pricing and policy term trends; fluctuations in the actions of rating agencies and the Company’s ability to maintain and improve its ratings; investment performance; the loss of key personnel; the adequacy of the Company’s loss reserves, severity and/or frequency of losses, greater than expected loss ratios and adverse development on claim and/or claim expense liabilities; greater frequency or severity of unpredictable natural and man-made catastrophic events, including pandemics such as COVID-19; the impact of acts of terrorism and acts of war; changes in regulations and/or tax laws in the United States or elsewhere; the Company’s ability to successfully integrate, establish and maintain operating procedures as well as consummate acquisitions and integrate the businesses the Company has acquired or may acquire into the existing operations; changes in accounting principles or policies; material differences between actual and expected assessments for guaranty funds and mandatory pooling arrangements; availability and cost to the Company of reinsurance to manage the Company’s gross and net exposures; the failure of others to meet their obligations to the Company; changes in the method for determining the London Inter-bank Offered Rate (“LIBOR”) and the potential replacement of LIBOR and other factors identified in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”).
The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with other cautionary statements that are included herein or elsewhere. All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.