Corporate Travel insurance is designed to protect organizations whose directors and employees travel for business purposes. This policy safeguards against financial disruptions, illnesses, or accidents that may occur during interstate or international trips undertaken on behalf of the company. By choosing to buy travel insurance, companies can ensure their employees are protected while focusing on their business goals.
The coverage applies to losses incurred during the policy period and is defined by the journey details outlined in the policy schedule. As an occurrence-based policy, it covers incidents happening within the policy period, rather than claims made afterward.
Corporate Travel insurance extends protection to all directors, employees, contractors, and consultants of the insured company who travel for business during the policy period. It also includes accompanying spouses, partners, and dependent children. Additionally, coverage can be expanded to include company owners or directors and their families for leisure travel unrelated to business.
This comprehensive policy ensures peace of mind for both business and personal journeys. When you buy travel insurance, you provide a reliable safety net for all eligible travelers.
What’s covered?
Corporate travel insurance typically provides coverage across several key areas, with sub-limits of indemnity varying based on the insurer’s policy terms. Here’s a breakdown:
Personal accident and illness
- Accidental death and permanent disablement.
- Fractures or broken bones.
- Injuries requiring surgery or resulting in dental loss/damage.
Cancellation and disruption
- Loss of deposits.
- Travel and accommodation cancellations due to illness or injury.
- Missed connections.
- Overbooked flights.
Baggage and personal belongings
- Delays, loss, theft, or damage to luggage.
- Loss, theft, or damage to mobile devices or other electronic equipment.
- Loss, theft, or damage to money, credit cards, or travel documents.
Additional coverage
- Kidnap and ransom.
- Rental car excess.
- Missed transport or transfers.
- Extra-territorial Workers’ Compensation.
Exclusions
The following are common exclusions that may apply:
- Government-imposed lockdowns or border closures.
- Choosing not to travel despite being legally permitted (e.g., due to vaccine mandates or similar reasons).
- Self-inflicted harm or suicide.
- Fraudulent, dishonest, illegal, or criminal behavior.
- Pre-existing medical conditions if the insured is 90 years of age or older.
- War occurring in Australia or the insured’s country of residence, as well as in designated high-risk regions such as Afghanistan, Iraq, Israel, Somalia, or Sudan.
- Incidents involving radioactivity or activities related to nuclear materials.
- Claims where the insured refuses to reasonably follow the advice of emergency assistance providers.
- Claims where payment would violate Medicare or private health insurance laws or regulations.
Claims process
In the event of a claim, the insurer will require written proof of any losses incurred. This may include travel documentation such as certificates or receipts. Failure to provide the required documentation could result in delays or even the rejection of the claim.
To ensure a smoother claims process, we recommend taking proactive steps before traveling. For instance, photographing luggage and high-value items prior to departure can be helpful. Additionally, storing travel documents electronically and making them accessible during travel is a prudent measure. Businesses should also consider establishing guidelines for employees traveling under their policy, referencing relevant policy conditions to ensure appropriate actions are taken following an insured event.
