Business Travel Insurance: A Must for Frequent Flyers
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If you travel for business outside of Canada, it is important to be aware of local customs, culture and hazards. Depending on the political climate of the country you visit, there may be added risks such as the potential for a kidnap and ransom situation. Before you fly, research your destination, ensure that you have all required documentation and confirm that you have comprehensive business travel insurance coverage.
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Foreign Travel Advice For Canadians
For the most current, country-specific information about safety and security, terrorism, local laws, customs and entry requirements visit the Government of Canada’s travel.gc.ca. Some business travel basics include:
- Before travelling abroad, ensure that your passport and visa (if required) are valid and match your destination’s entry requirements. Information on Canadian passports can be found at pptc.gc.ca.
- Bring copies of all of your travel documents and consider storing this information on a secure online data storage site.Remember to provide your Canadian emergency contact with your itinerary and contact details so they can reach you.
- Know the location of the nearest Canadian embassy. Pre-register to obtain access to consular services and emergency travel information: gc.ca/travelling/registration. Have enough cash in the local currency in case of an emergency situation.
Travel.gc.ca also provides detailed, health information such as any required vaccines, malaria risks and recent health news. Be sure to confirm that your vaccines are up-to-date, plan ahead for any pre-existing medical conditions and consult your physician before travelling abroad. Because political climates and health risks can shift rapidly, understanding your destination and purchasing business travel insurance are essential.
Be Prepared With Business Travel Insurance
An emergency while travelling abroad can be extremely expensive as your health care expenses may not be covered. Comprehensive business travel insurance can cover the following:
- An injury or sudden illness abroad
- 24-hour emergency service and assistance
- Personal liability
- Lost and stolen possessions
- Cancellation and curtailment
- Legal expenses
- Any activities you’ll be doing that aren’t normally covered, such as hiking
If you are travelling on business to an unstable country, some policies now cover terrorism. You should also be aware that drink- or drug-related incidents as well as damage which results from the insured’s negligent care of his or her belongings are typically excluded from business travel insurance. Learn more about the fine print of business travel insurance.
An ALIGNED advocate can assess your insurance requirements and provide advice on what coverage you and your employees need while travelling outside of Canada for business. Talk to one of our advocates today about how we can help you secure the best products, services and insurance solutions for your business.
|ALIGNED Across Canada 100% Canadian owned, ALIGNED is a premiere insurance brokerage that serves more than 1,400 clients across the country. ALIGNED’s offices in Toronto, Calgary and Vancouver are supported by a national operations centre in Cambridge, Ontario. Uniquely within the industry, ALIGNED creates, negotiates and delivers the best business insurance and risk management strategies/solutions to organizations like yours.|
Source: This Risk Insights is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel or an insurance professional for appropriate advice. © 2013 Zywave, Inc. All rights reserved.