I have had further emails today as amendments to my booking and on reading it again (carefully) there is one paragraph that might be highly significant
You must also ensure your policy includes cover for travel, cancellation and curtailment
Does this mean that in future any cruise that are cancelled due to Covid (or anything else) then P&O will not be refunding the cost but we would have to claim off our insurance?
If that is the case then it could make a significant difference about when to buy insurance and when to book a cruise as it would mean that even the deposit would not be refundable. If deposits return to a high level (10% - 15%) then that can be a sizeable amount for some cruises/cabin grades and if you use single trip insurance you can usually only buy that 12 months in advance but the cruise can be on sale some 18 months or more ahead of sailing.
Also it has now changed from being £2million to $2million - good to see that Carnival's IT has not improved