Jeffro wrote:

Is travel insurance compulsary? Do rich people have to have it?

It is usually compulsory for package holidays as the tour operators don't want the responsibility if anything goes wrong.

Perhaps no-one needs it, not even rich people, if they can afford to lose the cost of the holiday due to cancellation and have the funds to pay for medical bills and repatriation if it became necessary.

For anyone travelling to the US, for a very serious condition, that may top $1 million.

luci