Media Releases
2 July 2010
SMEs urged to double-check insurance policies
Without comprehensive corporate travel insurance, companies with staff on the move, could be leaving themselves open to a financial and possibly legal catastrophe.
No matter how careful or experienced your staff are when they travel, accidents happen and when they do, it pays to have a comprehensive travel insurance policy in place.
Corporate Traveller executive general manager Shannon O'Brien said companies should be double checking the details of their policies to safeguard their people and their bottom line.
"Not all corporate travel insurance policies offer the same level of cover. Companies need to read the product disclosure statements to see what the maximum benefit limits are for different aspects of their policies," Mr O'Brien said. "For their own safety, corporate travellers should be aware of the pitfalls of insurance policies bound by capped cover for things like overseas medical or dental."
Feedback from clients showed companies with multiple staff on the move throughout the year preferred policies that offered around-the-clock emergency support network and unlimited cover where it mattered the most, such as overseas medical expenses.
"Corporate Traveller's policies through our preferred insurance supplier - Cover-More Travel Insurance are designed to protect organisations and their staff with a proven support system and team of professionals," he said. "Companies with a Cover-More policy also benefit by the close relationship between Corporate Traveller and Cover-More, as Corporate Traveller staff will work closely with Cover-More's emergency assistance team should the unexpected occur," he said.
As a result of its long standing partnership with Cover-More, Corporate Traveller has developed a superior suite of travel insurance policies.
Companies that trade with Corporate Traveller are offered two main types of travel insurance including a Business Travel policy for individual travel and Corporate Travel insurance for company-wide cover. Generally speaking any business with two or more corporate travellers should be investing in a comprehensive Corporate Travel insurance policy.
Both Corporate Traveller's Corporate and Business policies include up to six weeks of leisure travel if attached to a business trip.
Corporate Traveller through Cover-More offers two different types of business travel insurance
- Corporate travel insurance - company wide cover
- Business travel insurance - cover for individual business travellers
BUSINESS TRAVEL INSURANCE CHECKLIST
- Does your company have a corporate travel insurance policy that protects all employees?
- Does your policy include *unlimited benefit cover where it counts (medical, dental, hospital)?
- Are your employees covered for emergency repatriation?
- Do your corporate travellers have access to 24-hour emergency assistance?
- Will your travel insurance cover the cost of replacing staff in the event of an overseas emergency?
*Medical cover will not exceed 12 months from onset.
