What is corporate travel insurance?
When business travel doesn’t go to plan, corporate travel insurance can help to cover out-of-pocket costs to your business and employees.
What can it cover?
Corporate travel insurance vary in the benefits they provide. Your insurance broker can help you find the right product to suit your business travel needs. But to give you an idea, here’s the type of cover that your policy may include:
|Type of Cover||Potential Benefits|
|Overseas medical and evacuation cost||The prohibitive costs incurred of covering staff for medical and evacuation costs if they become seriously ill or injured during a business trip.|
|Life & disablement cover||Protects your valued staff if they become disabled or pass away while travelling for business.|
|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.|
|Loss of deposits||Reimburses deposits on accommodation, flights or conferences if you or your staff member’s trip is cancelled due to accident or illness.|
|Personal liability||Property damages you may have caused or been responsible for, or bodily damage where you are at fault.|
|Cost 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.|