June 10, 2016
If you’re the Director of a registered business, corporate travel insurance will cover you for travel relating to your business and in some cases, any travel you take for leisure reasons. Many people do not realise this is the case, and miss out on saving significantly on their travel insurance costs.
Plenty of people get injured overseas while on holiday, or during the course of a business trip. During the 2012/13 financial year, over 200,000 travel insurance claims were paid out. (According to The Financial Ombudsman Service Australia report.)
The costs associated with international medical treatment can be exorbitant. Having corporate travel insurance covers you and your staff for medical expenses incurred overseas. It also means that an alternative employee can attend that important meeting or conference. Plus, coverage under corporate travel can be extended to include illness, for your peace of mind.
If luggage is lost, stolen or damaged while travelling, corporate insurance will cover the loss. This is especially important if you or your staff travel with expensive items such as laptops, iPads or other technological equipment.
If you have a business that employs people who travel in Australia or overseas, it’s important to protect your business from the costs associated with emergency travel expenses. This includes circumstances such as flight cancellations and even other associated costs.
Terrorist attacks and other events that are the result of social or political unrest are a real threat to those who travel to particular parts of the world. If you need to be evacuated in an emergency, your policy will cover you for this.
Airlines are known to delay flights if these kinds of events occur. Being covered for flight delays means hotel accommodation and other expenses related to your layover are taken care of.
In the event of a natural disaster, corporate travel insurance will cover you for evacuation, medical costs and other related costs. We recommend you contact our insurance broker for a comprehensive list detailing what corporate travel insurance covers you for.
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