Taking to the skies - corporate travel bounce back expected
After months of pandemic restrictions, state and country borders are slowly reopening, and many people are already thinking about planning their next trip.
For more than a year, we've moved our client meetings online and been running our businesses with the help of Zoom. But with things slowly returning to a version of 'normal', corporate travel is set to start again. As we prepare to start moving back to face-to-face meetings, travel insurance is one consideration you do not want to overlook.
Arranging travel insurance ahead of time - rather than treating it as an afterthought - leaves your business in a far better position in the event of an unexpected issue. The next year or two isn't going to be without its challenges and inconveniences for travellers, from trip delays to flight cancellations.
Making last-minute changes to your trip can be expensive. What happens if you have pre-booked accommodation or flights that will no longer work, but refunds aren't available?
There are several reasons that your trip may not go ahead. For example, let's say you've planned and paid for your travels, but air controllers go on strike, or a natural disaster leaves you grounded? Or if while away an employee loses a company laptop or becomes unwell or needs hospitalisation? Or one of your employees gets stuck in another country due to a resurgence of a new COVID variant?
There are plenty of events that could happen before, during or even after a trip, which can throw your initial plans off course. A suitable travel insurance policy protects your business against the subsequent financial losses this can cause.
Corporate travel insurance is designed to protect employers and employees travelling intrastate, interstate and abroad for business.
The exact inclusions vary from policy to policy, but many cover you for emergency overseas medical and evacuation expenses, a 24-hour support hotline and loss of deposit and cancellation expenses. Lost, stolen, or damaged baggage, personal injury and sickness while travelling, political and natural disaster evacuation and rental vehicle excess waiver are often covered as well.
Many travel insurance options are available, but it can sometimes be challenging to determine which one best suits your business needs. The pandemic has further complicated this, as the rules are seemingly always changing. But staying up-to-date on changes is crucial.
With the help of a broker, you can confidently and safely plan your next trip, all while navigating COVID-related risks. Policies can be arranged to meet your specific business needs. Give your broker a call to discuss your options before heading off - whether you're going within driving distance, interstate or overseas.
How Coverforce can help
At Coverforce, our experienced insurance brokers understand the risks that can be associated with corporate travel. We will work hard to deliver sound risk advice and the placement of a tailored insurance solution that meets the needs of your business and its travel requirements.
For more information or to arrange cover, please contact our expert team at your local Coverforce office.
The information provided in this article is of a general nature only and has been prepared without taking into account your individual objectives, financial situation or needs. If you require advice that is tailored to your specific business or individual circumstances, please contact Coverforce directly.
Find this article helpful? Click on one of the links below to share the content.