What is Corporate Travel?
Corporate Travel insurance, also known as Business Travel insurance, provides coverage for Management and staff for travel on business in Australia and Overseas. A standard Corporate Travel policy will also provide cover for pure leisure travel for Directors and management, and also incidental leisure travel attached to business travel for employees of the business. In addition most policies will provide coverage for the accompanying spouse and dependent children whilst taking the trip.
A Corporate Travel policy will typically have the following areas of coverage.
- Personal Accident
- Overseas Medical Expenses
- Cancellation and Lost Deposits
- Lost Baggage and Travel Documents
- Rental vehicle excess
- Alternative employee / Resumption of assignment
- Kidnap and Ransom
- Hijack
- Personal Liability
- Search and Rescue
- Extra Territorial Workers Compensation
A 24 hour/7 day contact phone number is provided for emergency contact at any time as well.
Corporate Travel insurance video
For a quick explanation of Corporate Travel cover, please watch the below video.
Corporate Travel Claim Example
An Insured Person suffered a life-threatening medical event on a flight travelling from Paris to Brisbane. The flight was diverted and made an emergency landing in Dubai. The insured person was admitted to Intensive Care Unit in Dubai and underwent surgery. They were flown the next day to Brisbane.
The Total Amount Payable for this loss was $ 150,000, with the Insured Person covered under the Medical, Evacuation and Additional expenses section of policy cover.
Is there a difference in types of Corporate Travel policies?
Yes, there is. For example, with delayed luggage, some policies pay if your luggage is delayed for 24 hours, some 8 hours, and others 3 hours. Some insurers will make a payment onto a provided debit card for emergency basic costs in the event of the luggage not being at your airport carousel.
What are common exclusions for Corporate Travel cover
Corporate Travel insurance policies have exclusions as all insurance policies do. The common ones are:
- Taking a trip against the advice of a doctor
- Routine medical, optical, dental treatments
- Cancelling or missing a trip due to a business obligation i.e. needing to have a business meeting rather than taking the flight.
- Inability of a Tour operator to complete a Tour due to deficiency in numbers to undertake Tour
- Financial Default of airline, tour operator, related service partners, accommodation facilities.
- Taking a flight in a non-scheduled chartered plane, unless agreed with insurer
Pre-existing medical condition exclusions have been removed in some policies, and as long as the doctor says you are fit to travel, that is acceptable to insurers.
Business Insurance Specialists is an expert provider of Corporate Travel insurance. We appreciate the difference in coverage between policies and have access to all the insurers in the Corporate Travel market.
For a Corporate Travel insurance quotation, please complete our online form or contact us today.