Group Business Travel

The world is becoming increasingly unpredictable, with companies operating in a climate of greater uncertainty. Be it international terrorist actions or natural disasters or accidents whilst on company business, different situations can have a significant impact on an organization and its employees.

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The little-known benefits of a Group Travel Insurance

  1. If you are running a business that employs staff that travels regularly; OR
  2. You are responsible for administering the medical and travel insurance for your employer; OR
  3. You are a regular business traveler.


This matters to you!

It’s a common practice for many of us to be traveling frequently for business purposes. In the interest of both the employer and employee, chances are, travel insurance in a form or another would have been in place. However, the BIG MISTAKE that many employers make is that they take up individual travel insurance – meant for leisure and business travel. Possibly, not an efficient and optimal solution as they are not designed to serve business travel needs

Here’s why an individual travel insurance is not optimal … …

  • Individually issued – each policy will have its own effective date, thus with 10 frequent travelers, there are 10 policies to manage, an administrative hassle and runs the risk of missing renewals and staff travelling (unknowingly) without protection. A potential nightmare when the unforeseen happens! Who do we blame?
  • When the employee leaves – policy cancellation is expensive. Some travel insurers will only entertain refunds for 50% of the premium paid if the policy is in-force for less than 6 months, while others will not even entertain request for refunds. When the employee leaves after 3 or 7 months, chances are the unused premium is lost, depending on the HR practice. Is this an optimal way to manage premiums – part of business costs?
  • An individual plan includes is meant for leisure travel, of course – if you only need to secure coverage for business travel risks, are you over paying for what is not required?
  • Exclusion from pre-existing conditions – among the frequent travellers, chances are there will be some with above (ie: history of hypertension, heart related, etc). Almost all individual travel plans that I know of excludes pre-existing conditions in some form. What if a staff or colleague had a stroke or heart attack during the trip, what are the implications?
  • “Manual work” – Do you know of your occupation is deemed as manual work and if you are hurt while at work, it is potentially excluded? Now you know.
  • Travelling with business equipment – it is normal to travel with some business issued equipment or product samples, if you are, do you know this is usually exclusion list for personal property coverage?
  • Countries exclusion list – different insurers for individual travel insurance tend to have a list of countries where coverage is excluded. Does your business travel take you those countries?

Some benefits of a good Group Business Travel plan:

  • Group policy – only 1 master policy to manage regardless of number of frequent travelers and different hiring dates. Making administrative management a fuss-free.
  • Unnamed basis – when frequent traveler A is replaced with B, neither cancellation nor notification required. No need to buy a new individual travel insurance. Resulting in ZERO leakage in premiums arising from utilized coverage.
  • No pre-existing medical conditions exclusions – peace of mind, priceless.
  • Employment disruption benefit – deposits and advance payments in respect of transport and accommodation costs incurred due to the cancellation of the journey – Limiting your losses.

What type if businesses will benefit from a Group Travel Insurance?

  • Small to large businesses in all industries
  • Growing middle-market companies
  • Multinational corporations

For a review of your business travel needs … …