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5 Modern Risks to your Organisation – No 2. Corporate Travel Insurance

By Michael Giansiracusa on

Travel is often a necessary part of conducting business in today's global economy. Unfortunately, on the odd occasion, it doesn't always go smoothly...

Without a Corporate Travel Insurance policy, your business could end up footing the bill for losses that run into thousands of dollars for disrupted flights, medical expenses, lost or stolen money – these are just to name a few.

Real examples:

  1. Storms shut down Sydney’s domestic airport due to a power failure a power failure. This saw hundreds of passengers delayed at the beginning of school holidays, with significant flow-on effects at airports around Australia. Many travellers missed their international connecting flights as a result.
  2. Australia - Bali flights have been suspended numerous times due to sporadic eruptions from Indonesian volcano Sangeang Api, leaving thousands stranded for days.
  3. Flights were severely disrupted before Christmas at Gatwick airport in the UK, when drone sightings forced all plans to be grounded for over 24 hours. No flights landed or took off during this time causing massive delays.

The financial cost to your business from events outside of your control could be significant. The examples mentioned above only underline further, the importance of taking up Corporate Travel Insurance.

Corporate Travel Insurance can include cover for;

  • Unforseen travel disruption, cancellations, loss of deposits caused by events such as terrorism, weather events etc.
  • Lost, stolen or damaged baggage, passports, electronic devices etc.
  • Political and natural disaster evacuation
  • Unlimited overseas medical expenses, including medical evacuation
  • Personal liability during your travel
  • Vehicle excess waver
  • Kidnap & Ransom monies reimbursement
  • Accidental Death and Injury
  • 24/7 access to international assistance providers

Cover for accompanying family can be included

As a director of the business, a Corporate Travel Insurance policy can cover your travel for both business and personal reasons. It also extends to cover your accompanying spouse or partner as well as dependent children.

To find out more about Corporate Travel Insurance and how it can minimise travel exposures for your business, please contact our team of specialists by submitting an online Enquiry Form, or calling us on 1300 424 627.


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Related links you may find interesting:
Personal Leisure Travel Insurance: Place cover online with AIG and receive a 20% discount
Department of Foreign Affairs and Trade:

References: Zurich Corporate Travel

The information contained in this documentation should only be considered as general advice.  It is not intended to take the place of personal advice.  Before acting on this information you should consider the appropriateness of this advice to your particular objectives, needs and financial situation.  For a full explanation of policy terms, conditions and limits you should refer to the relevant Insurer’s Product Disclosure Statement which can be obtained from our office.  Cover is subject to underwriting acceptance criteria.  

Please contact Whitbread Associates Pty Ltd ABN 69 005 490 228 Licence Number: 229092 trading as Whitbread Insurance Brokers for further information or refer to our website.

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