About 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.
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Who should consider 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 overseas 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 employees, and spouses and dependents travelling with them.
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➤ in fact
"All travel carries with it inherent risks, even shortterm travel to familar overseas locations for meetings and conferences. Risks from political tensions, civil unrest, fraud, sevre weather, natural disasters and security of corporate information exist in countries that are not usually considered dangerous."
Smart Traveller website, 2017
Case Study
While visiting clients in London, your employee falls down a flight of stairs, fracturing their hip and breaking their arm.
After being taken to hospital in an ambulance, doctors take x-rays and MRIs 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 these costs. Depending upon the policy, you may be able to 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 undergoes physiotherapy. You may also be able to claim for the hire of someone to take over your employees’ duties until they are back in Australia and fit to return to work.
Did you know?
31%
24%
Traveller
31% of Australians have travelled overseas in the past three years without travel insurance.
(DFAT, Survey of Australians' Travel Insurance Behaviour, August 2016)
For frequent travellers, annual travel insurance cover is significantly cheaper than taking out cover for one-off trips.
(Compare Travel Insurance, Annual Travel Insurance Guide, 2016)
24% of all travellers experienced a loss on their most recent overseas trip that would be covered by most travel insurance policies.
(DFAT, Survey of Australians' Travel Insurance Behaviour, August 2016)
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. For more detail please download the last brochure.
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Important note
This information is provided to assist you in understanding some terms, implications and common considerations of Corporate Travel Insurance, it is not complete, so please request full details from your Steadfast insurance broker. You should consider the Product Disclosure Statement (PDS) in deciding whether to buy (or continue to hold) this insurance and also whether this insurance is appropriate for you. The PDS can be obtained from Sky Financial Group. Deductibles, exclusions and limits apply. Corporate Travel Insurance is issued by various insurers.
Sky Financial Group is an Authorised Representative of Fay Baker 79619240801 - 336757