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Travelling for business purposes is an exciting yet challenging journey. Regardless of your industry, an official tour diversifies your role while giving you the necessary exposure to all the potential markets and economies.
Yet, going places to do corporate business involves its own set of risks. For instance, if your destination is a war-torn state or undergoing economic crises, you must be extra cautious before entering the country. Buying the right corporate travel insurance policy is the primary step in securing yourself in a foreign land. With a corporate travel plan, companies can safeguard their employees against unforeseen medical emergencies and travel contingencies in a foreign land.
This article highlights the significance and need of corporate travel insurance policy for employees.
Why is A Travel Policy for Employees Important?
Whenever an organisation sends the employees on an official tour, it becomes their responsibility to ensure the safety of their employees. Hence, corporate travel insurance for employees is always an integral part of their employee travel policy. Here are the broad reasons why travel insurance is a must for business travellers:
- It facilitates the evacuation of employees during life-threatening conditions like war.
- It provides coverage for medical emergencies during a pandemic or personal illness during the journey.
- In case of loss of passport and other travel documents, it covers the cost of preparing duplicate travel documents.
- It reimburses for unused flight tickets in case of trip cancellation subject to certain conditions stated in policy documents.
- It assists the traveller in rearranging flights in case of delayed flights.
In a nutshell, a comprehensive corporate travel insurance policy covers all the risks an employee might face during their official tour.
When and Why Do Employees Need a Corporate Travel Insurance Cover?
A corporate travel insurance plan helps employees and employers protect the journey’s objective and ensure safe trips. The policy pays for specified medical and non-medical contingencies that can disturb the finances and health of the employees en route.
Group corporate travel insurance can cover business travellers against the following travel risks:
Safeguard Against Socio-political Unrest
Given the ongoing conflicts worldwide — from the two-year-old Ukraine war to the civil war in Sudan or the ongoing conflict between Israel and Hamas — travelling has become a risky affair lately. Especially for Indian immigrants and public workers, it becomes essential for organisations to safeguard their employees against unprecedented emergencies. Thus, employers provide comprehensive group travel insurance for those employees travelling abroad for business purposes. Under group travel insurance plans for corporates, employees and business travellers are safeguarded against all possible socio-political unrest. Travel assistance providers also facilitate the safe evacuation of tourists from the war-affected zones.
Assistance During Natural Calamities
Given the grave climate change situation, western disturbances often lead to drastic changes in rainfall patterns, which raises the threat of flooding in the South Asian region, particularly during the winters. An appropriate travel policy for employees covers the cost of evacuation during such natural calamities. Besides, this plan also covers delayed or cancelled flights in case of an earthquake, storm, flood, cyclone, or tempest at or near—
- The place of origin of your trip, OR
- The Place of Destination, OR
- Any transitional place involved in the official tour.
Financial Security Amid Medical Emergency
COVID has taught us the importance of financial prudence against medical crises. Knowing that the pandemic is not over yet, and businesses worldwide have thrived again despite all the odds, organisations need adequate risk coverage for their employees against medical emergencies involved in business travel. Besides COVID-19, numerous other health crises may impact corporate emissaries. Business concerns need to be well-prepared with a prudent employee travel policy that involves proper risk assessment of all business travellers and a comprehensive corporate travel insurance policy.
If you are looking for an economic travel policy for employees, international medical group travel insurance is the one-stop solution. Such a plan covers all the essential costs involved during business travel, including medical evacuation.
Coverage Against Other Personal Risks
Besides a medical crisis, many other unfavourable occurrences might cause you to get stuck in an unfamiliar destination. This may include loss of passport or any other important travel document or a legal mandate enforcing you to appear in a regional court during your business trip. Rest assured, your international business travel insurance is there for your rescue in all such situations. The insurer will not only reimburse you the cost of the issue of duplicate travel documents but will also cover you against delayed flights, besides rearranging your return flight.
Coverage for Missed Connecting Flight
Sometimes, your business trip may require you to fly between two destinations through a connecting flight to your final destination. You may miss your second flight, if your deadline between the two connecting flights is tight. Such an awkward situation can cause additional expenses and a trip delay. If your business is covered by group travel insurance, you can get reimbursement for the additional expenditure incurred by you for rebooking the flight.
Does Corporate Travel Insurance Cover Trip Cancellation?
Certainly! The corporate travel insurance policy covers additional expenses incurred in case of a cancelled trip.
In this regard, the Care Group travel insurance provides coverage up to a certain amount in case of trip cancellation due to the reasons specified in the plan brochure and prospectus. Notably, the flight cancellation insurance claim is available for international business trips.
Summing Up!
With that, we have discussed different ways a group travel insurance protects business travellers during a business trip.
To know more about the validity of claims and exclusions to flight cancellations, you must carefully read the Care Group travel insurance policy brochure and prospectus. You may also feel free to talk to the customer care team for comprehensive guidance on claim settlement.
>> Also Read: How Does Insurance Work in International Travel
Disclaimer: Plan features, benefits, coverage, and claims underwriting are subject to policy terms and conditions. Kindly refer to the brochure, sales prospectus, and policy documents carefully.
