When things don’t go to plan when your abroad, its nice to know you have the right insurance covering you or your staff.

What is Corporate Travel?

When Business travel doesn’t go to plan, Corporate Travel Insurance can help to cover out-of pocket costs to your business and employees.

”All Travel carries with it inherent risks, even short- term travel to familiar overseas locations for meetings and conferences.Risks from political tensions, civil unrest, fraud, serve weather, natural disasters and security of corporate information exist in countries that are not usually considered dangerous” ( Smart traveller Website 2017 )

Why do i need it?

If you or your employees need to travel for work, Corporate Travel Insurance can protect your business from financial loss associated with situations such as oversea’s health emergencies, flight cancellations or lost and stolen baggage.

Corporate Travel Insurance is similar to personal travel insurance. It can cover your business for unanticipated travel costs if specific events happen.

Corporate travel Insurance also covers your directors and employee’s and spouses and dependents travelling with them.

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31% f Australians have travelled oversea’s in the past 3 years without travel insurance
( DFAT, survey of Australian’s travel insurance behaviour August 2016 )

For frequent travellers, annual insurance cover is significantly cheaper than taking out cover one off trips ( Compare travel insurance, Annual Travel insurance guide 2016 )

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24% of travellers experienced a loss on their most recent oversea’s trip that would be covered by most travel insurance policy. ( DFAT Survey of Australians travel Behaviour, August 2016 )

What Can it Cover?

Corporate Travel insurance vary in the benefits they provide. We can help you find the right product to suit your business travel needs. But to give you idea, here’s idea of cover your policy may include:

Type of Cover

Potential Benefits

Oversea’s medical and evacuation cost

The prohibitive costs incurred of covering staff for medical and evacuation costs of they become seriously ill or injured during a business trip.

Life & Disablement cover

Protects your valued staff if they become disabled or pass way while travelling for business

Lost luggage and Personal effects

Avoids the expense of replacing business equipment such as laptops as well as employee’s lost or stolen belongings

Flight Cancellations and Missed Connections

The costs of needing to book additional flights and accommodation for staff

Rental Car Excess

The excess on a damaged or stolen rental Vehicle

Personal Liability

The property damages you may have caused or been responsible for, or bodily damage where your at fault

Costs of replacing an employee

The cost of having to employ new staff to replace an employee who is injured or becomes seriously ill during work travel.

What Usually Isn't Covered?

Exclusions, the excess you need to pay can be vary greatly depending on your insurer. However, exclusions may include

Some pre existing conditions ( we can assist in explaining further about this )
Refunds if your travel provider becomes insolvent
Pregnancy
Travelling against medical advice.

There are other exclusions which we will go through with you depending on the product that is suited for your travelling requirements.

Case study

While visiting clients in London, your employee fall down a flight of stairs, fracturing their hip and breaking their arm. After being taken to hospital in an ambulance, doctors take ex rays and MRI’s of the injured areas. Your employee is informed that they require surgery on their hip and will have to undergo physiotherapy before they will be allowed to fly home to Australia. Their flight is scheduled for the following day and will now need to be cancelled.

A corporate Travel Insurance policy allows you to recover some or all of theses costs. Depending upon the policy, you may be able make a claim for the medical costs of their surgery and rehabilitation, as well as the flight cancellation and additional accommodation required while your employee under goes physiotherapy. You may also be able to claim for the hire of someone to take over your employee’s duties until they are back in Australia and fit return to work.

A product disclosure statement (PDS) is available from us. You should consider the PDS in deciding whether to acquire or continue to hold, business insurance.

Important note: This information is provided to assist you in understanding the terms, implications and common considerations with this type of insurance. It does not constitute advice, and is not complete, so please discuss the full details with us.

When things don’t go to plan when your abroad , its nice to know you have the right insurance covering you or your staff.