Banks are waiving insurance for free travel, and it’s a gift for the brokers who do it first.

NAB began phasing out free travel insurance on several cards back in May, replacing it with free mobile phone insurance in some cases. ANZ has introduced a three-tier structure for its premium cards, cutting some benefits entirely and, for others, reducing the international health cover limit from unlimited to $20,000, while raising the excess to $350. Westpac has removed trip cancellation, trip delay, baggage and accidental death cover from its international cover, leaving only limited medical cover. CBA went even further by moving its underwriting from Cover-More to Cover Genius as part of its broader loyalty program. Full details of what each bank has cut can be found in the comparison table below.