International travel has become a way of life for many employees, but it does expose them to hazards, which their employer may not be adequately accounting for or protecting them from.
Despite the proliferation of global mobility teams within companies, many business travellers are still left to make their own travel arrangements, including meeting immigration requirements and arranging suitable travel insurance. That raises the risk of inadvertent non-compliance with local laws by staff on business trips. According to research from Santa Fe, a quarter of companies lack a programme to ensure business travel is compliant with laws and regulations.
But the risks are more than legal. Business’s travel managers cite safety and security as their top priority, above even cost control, according to a study by the Global Business Travel Association (GBTA). Travel managers and business travellers themselves are most worried about terrorism (45%) but also fret about outbreaks of disease (13%), property theft (12), kidnapping (8%) and natural disasters (6%).
More minor hiccups, including flight cancellations and delays, loss of luggage and laptops, can disrupt travel plans, inconveniencing clients and contacts and marring the reputation of the company abroad.
Despite the risks, business travel often falls outside of companies’ existing risk monitoring. Employees travelling outside of official mobility programmes are the most exposed.
Business travel accident and assurance can allay some of these worries, giving peace of mind to both employees embarking on trips and their companies at home.
These policies provide insurance against everything from flight delays and lost luggage to accidental death or injury while travelling. It also comes with more than 30 assistance services, including medical expenses cover for emergency treatment, evacuation and repatriation. Experienced providers can tailor business insurance and assistance policies to the needs of each company, insuring no cover is duplicated and no risk is unaccounted for.