Both an Individual travel insurance policy and a Group travel insurance policy essentially help protecting the travelers against unanticipated incidents during their trip. While most of us have bought an individual travel insurance policy and experienced that they need to provide personal details such name and HKID to the insurer before they issue you your policy.
For a company with several frequent travelers it would be quite some work to provide all these personal details to the insurer. The Office Manager or HR Manager responsible for administering the Travel insurance policy for the employees would be quite busy with furnishing these details to the insurer.
Luckily when taking out a Business Travel insurance for their staff the Office Manager or HR Manager saves themselves a lot of time because of certain characteristics of a Business Travel Insurance policy that work in their advantage:
1) Unnamed basis
2) No requirement for trip declaration
3) Up to 180 days trip duration
1. Unnamed basis
Insurers don’t need to be notified with every frequent travellers personal details when setting up a Business Travel insurance policy. The insurer only needs to know the number of frequent travellers that are going to be on the plan for the coming year.
2. No requirement for trip declaration
Each frequent traveler in the company can go on as many trips every year without the need to notify the insurer where they are going or even if it’s a business or leisure trip.
3. Up to 180 days trip duration
This is longer than a usual Individual Annual Travel insurance, most individual annual travel insurances have a limit of 90 days trip duration. So the Business insurance policies we know of allow for longer trips for your staff members.
To learn more about Travel Insurance, or to get a quote, please visit our Group Travel Insurance page
The benefit details mentioned in this article are from the Chubb Executive Travel Care insurance policy. Coverage details were taken from the Chubb Executive Travel Care insurance brochure.
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