All You Need to Know About Corporate Travel Insurance in UAE

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Being is a business owner is a lot more than just making profits. You have to make sure that your business is flourishing and with that comes the responsibility of taking care of your employees. From offering on-job benefits and bonuses to group health insurance plans, there is a lot that a corporate can do to make sure that employees are protected. One such thing corporates invest in is business travel insurance. Business travel insurance plans go a step further and protect not only employees but also employers when they travel abroad for work. Let’s understand all that there is to know about business travel insurance.

What Is Corporate Travel Insurance?

A corporate or business travel insurance is a special kind of travel insurance plan designed for business owners or companies as an entity. It extends its coverage to both employers and employees who have to travel for work purposes. A business trip insurance plan is much like any basic individual travel insurance plan and offers similar types of benefits. If an employee meets an accident when traveling for work, the company ends up with liability. This makes business travel insurance a good way to protect the company against any big losses that may arise in such situations.

Corporate Travel Insurance Inclusions

The benefits that a business trip insurance provides may differ as per the provider and type of coverage you choose. Following are some of the basic things that you can easily find in most corporate travel insurance plans:

Emergency medical expenses, repatriation expenses, and evacuation expenses cover
24x7 emergency assistance
Cover for travel-related losses such as baggage loss/damage, money theft/loss, credit card frauds, loss of travel documents
Missed flights and other forms of transport, plane hijack cover, and baggage delay cover
Personal liability cover, legal fee, and bail bond benefit
Trip cancellation cover
Personal accident cover
Rental vehicle damage cover insurance

Corporate Travel Insurance Add-Ons

Adventure sports participation cover
High-risk country protection
Terrorism cover

Corporate Travel Insurance Exclusions

Following conditions and expenses are seen as the general exclusions for most corporate travel insurance plans.

Injuries when involved in illegal activities, attempted or otherwise
Injuries caused due to self-harm or suicide attempts
Damages due to any act of war including foreign invasions, terrorism, and riots
Damages caused due to radioactive substances or explosions
Damages or injuries caused when under the influence of drugs
Injuries and damages caused when driving without a valid permit or DUI

Benefits of Buying Corporate Travel Insurance

Reduces Risk for the Firm: The biggest benefit of business travel insurance plans for the firms is that they reduce financial risk and liability on their part. If an employee is traveling for work and gets injured while on the trip, the company may have to bear the losses. A business travel insurance plan provides sufficient coverage for all such related expenses.
Offers Protection: Business travel insurance for employees provides optimum protection and support that one may need when on a trip abroad. You can run into several technical or health troubles even when traveling for work. A proper corporate travel insurance plan would offer the assistance you require during such times.
Single Cover for All: A corporate travel insurance plan would cover both employees and employers. So, if a company invests in such a plan, the benefits will be accessible to not only the employees but also the executives of the firm. This solves two purposes with a single shot resulting in cost savings for the companies.
Quick and Easy Assistance: If you are protected by a business trip insurance plan when you travel, you will have immediate access to the insurance provider’s helplines and assistance services.
Peace of Mind: Last but not the least, going on a trip knowing that you are protected by a proper business travel insurance plan can bring significant peace of mind.

Eligibility Criteria to Get Corporate Travel Insurance

Business travel insurance is provided to the employees by their firm. The eligibility can differ as per the company policies here. The basic eligibility criteria to meet is – applicant must be a UAE citizen or resident with properly documented proof and must work with a corporate firm.

How to Claim Corporate Travel Insurance?

You simply need to fill out the travel insurance claim form and submit it with your HR representative to make the claim. The HR representative of your company will take your claim further and examine it for settlement. You can either obtain the claim from your office or directly from the website of the insurance provider. Just make sure that the form you have downloaded is for corporate travel insurance and not personal travel insurance.

Conclusion

Traveling for business purposes is inevitable and exceptionally important more often than not. But no matter how important a trip is, every one of us would want to return home safe and sound. Business travel insurance plans can make that possible for us, given that you choose well and offer your employees good coverage for their business trips. Whether you are an employee or an employer, you can benefit greatly from a business trip insurance plan. So, weigh your options and make a sound choice.