Business Travel Insurance
Zurich Business Travel Insurance is travel insurance cover for SME clients. It provides company directors and employees with insurance for financial disruptions that occur while they are undertaking domestic travel or international travel.
The scenario of being stranded during travel is real: air traffic controllers striking, natural disasters making flying unsafe, or indeed a traveller needing medical treatment during their overseas trip.
While international travel may be an obvious reason to take out Business Travel Insurance, domestic travel happens much more frequently. Under the Zurich policy, business travel exceeding 50km from the traveller's residence or business premises is covered.
Zurich Business Travel Insurance protects any company directors and employees of the insured company on business trips such as:
- Business trips to visit clients and suppliers
- Business trips to attend conferences and seminars
- Incidental leisure travel, such as a stop-over on the way home from a business trip.
Zurich Business Travel Insurance also makes it easy to protect insured persons for pure leisure travel:
- Directors and senior managers (as defined)
- Their spouse and dependent children travelling with them
- Any additional nominated employees (as declared)
- Spouses and children of directors and senior managers travelling independently (as declared).
How to apply
The features of Zurich Business Travel Insurance are broader than a retail or credit card policy. It is worth comparing the covers. Your broker can assist with this task.
Who do we insure?
Zurich Business Travel Insurance is suited to just about any business where travelling either domestically or overseas is necessary. While we will look at most risks, some types of businesses present higher risk and may need to be case underwritten.
How quickly can I get cover?
Zurich Business Travel Insurance provides instant cover. Real time travel documentation such as schedules and certificates of currency can be issued instantly, for peace of mind for a whole year.
Real benefits of Business Travel insurance
How would you fare in these scenarios?
Brian worked in Australia for a multinational company based in London, UK. He travelled to Munich for their annual conference. Following the two day conference, he was to travel to London to negotiate a contract with a new client of the firm which would potentially contribute 40% of their sales for the next financial year. When the conference finished, he travelled to the airport for his flight to London to find that all flights were cancelled due to ash cloud from a volcanic eruption in Iceland which covered most of Europe. After incurring additional accommodation costs at a premium rate, it became clear that he may be grounded for weeks.
Following many hours trying to find alternate transport, he took the drastic step of organising a hire car to drive him the 1075 km to London. The cost was $5,800 AUD. Once in London, he again had to wait a further 3 days before Heathrow airport opened and he could board a plane to return home. After reimbursements from the airlines, he estimated that the unforeseen event had cost his company $10,000 AUD in additional costs.
Under Zurich’s Business Travel Insurance, Brian would have been provided with access to Zurich Assist 24 hours a day while he was travelling. The additional costs incurred as a result of this incident could be covered by the policy.
The director of a marketing firm took his wife and two young children to Los Angeles for a family holiday. Whilst enjoying a day at one of the local theme parks, his wife tripped whilst running for one of the rides and hit her head on the pavement. Later that day she complained of feeling dizzy and was very lethargic, so she was taken to the local medical centre.
After multiple tests she was admitted to hospital and diagnosed with an aneurysm on her brain. Her condition was very serious, and the cost of her medical expenses was estimated at nearly $150,000 AUD. She spent several weeks in a LA hospital before she and her family were able to return home to Australia and she eventually fully recovered from her injuries.
As the director’s firm had purchased a Zurich Business Travel policy which automatically includes pure leisure travel for company directors and their accompanying spouse and dependent children, his wife’s medical expenses, the family’s cancellation and other additional expenses incurred whilst she was in hospital and the repatriation costs were fully covered under the company’s policy.
Zurich Business Travel Insurance covers:
- Unlimited overseas medical expenses up to 90 years of age
- Personal accident and sickness
- Loss of deposit and cancellation and curtailment expenses
- Lost, stolen or damaged baggage
- Political and natural disaster evacuation
- Vehicle excess waiver
- Zurich Assist for 24/7 support worldwide
- And many other valuable benefits.
Particular benefits of Zurich Business Travel Insurance:
- Ability to extend pure leisure travel beyond directors and senior managers, to other insured persons - at the touch of a button
- No age limit applies for overseas medical expenses, loss of deposits and cancellation costs*
- Vehicle excess waiver includes personal vehicle use
- No exclusion for pre-existing medical conditions
- Insurance is equally valid for business and pure leisure travel.