What are the new concepts that the company can cover in business travel insurance?
JAVIER RUZ BENTUÉ, Head of Business Travel, INTERMUNDIAL
The current process of internationalization of companies, which in Spain has accelerated significantly in recent years, has led to the arrival of these companies in new markets. At the same time, new hotspots of unexpected political instability have arisen in new geographical areas;climate climate or geological and social conflicts.
Together with this is the company's obligation to its traveling employees. In this sense, Spain has one of the most rigorous legislation in terms of worker protection and safety. It stems from the Constitution and is reflected in the Law on Occupational Risk Prevention, articles 16, 18, 20 and 21 of which regulate concepts such as the obligation to draw up a prior assessment and planning plan for the prevention of occupational hazards that in its articles 16, 18, 20 and 21 regulates concepts such as the obligation to draw up a prior assessment and planning plan for the prevention of occupational hazards that in its articles 16, 18, 20 and 21 regulates concepts such as the obligation to draw up a prior assessment and planning plan for the prevention of occupational hazards ;The obligation to prepare a prior risk assessment and planning plan, information about the risks and the measures adopted, as well as the adoption of the necessary measures to interrupt the activity and guarantee the safety of the traveler.
Under these premises, there are concepts that can be demanded by the company at the time of being incorporated in its travel insurance policy. Special importance is given to the médica coverage which must be sufficiently broad depending on the country of destination, and there are even products with unlimited coverage. In some cases, the pursuit of medical expenses upon the insured's return to his/her country of origin may also be contemplated.
You may be concerned about being covered in situations of kidnapping and hostage taking, as well as for search and rescue of hostages. The cancellation or interruption of the trip for various reasons allows eliminating unnecessary costs that are currently faced. The evacuation in the event of political instability, catastrophes, attacks, aggression or assaults has become a very important aspect to take into account. Coverage against loss, theft or damage to professional IT equipment, as well as samples, provides peace of mind in the face of this very real risk, as well as the possibility of sending forgotten, stolen or lost documents.
Finally, a well-conducted study must take into account the different regulations between countries, among other things when it comes to settling compensation and providing assistance services. For this purpose, it is advisable to complement the policy made with the parent company in its national location with local policies adapted to the insurance legislation of each country in which the company has offices or subsidiaries.