Corporate Travel Insurance
If you or your employees are required to travel either internationally or domestically while on business, you should make sure your organisations isn’t exposed to significant expenses they can incur. Expenses for medical treatment, emergency medical evacuation, flight cancellations or lost luggage are just a few of the common costs that companies can face when on business trips.
The Department of Foreign Affairs and Trade assists more than 20,000 Australian travelers a year in difficulty, including over 700 hospitalisations, 600 deaths and 100 evacuations to another location for medical purposes.
World events resulting from political and social unrest have further increased the risk of business travelling. So now it is even more important for organisations with overseas or domestic travel commitments to ensure their corporate travel insurance is adequate.
The recent volcanic eruption in Iceland caused major disruption to air travel worldwide. Those people who had a corporate travel policy and had their trip booked and paid for before the issue was apparent were covered for the cancellation of their ticket, or temporary accommodation and additional expenses.
A little known benefit is the reimbursement of the excess or deductible (normally $2,500 or more) payable under a comprehensive motor insurance policy in respect to the loss by theft, collision or damage to a rental vehicle.
Some other key benefits of a Corporate Travel Policy include:
- Annual premium with no prior declaration of trips required
- Personal injury and medical expenses
- Luggage, money, travel documents
- Political and natural disaster evacuation
- Medical expenses insured for up to 24 months after the journey
- Family assistance
Having an annual corporate travel policy will provide automatic cover for you and your employees for domestic or international travel and will save you the hassle of remembering to take out cover for each trip.
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