Whether you have numerous employees who frequently travel abroad, or you have a single employee traveling abroad just one time, it’s essential to keep them safe while they’re out of the country. Travel insurance is one aspect of that safety net, but there are other actions that can be taken to ensure your employees are as safe as possible. Let’s review the key components to safe travels to foreign lands.
Knowing the Risks
First and foremost, it’s essential to know the risks of any given area. This can be difficult to do on a global scale, but these days there are many websites dedicated to updated information, and there are even apps available that track stats on an hourly basis. When you know where the risk zones are, you can better formulate travel plans. Many business owners make the mistake of thinking that buying travel insurance is enough, and that they know which areas of the world are currently in conflict. The reality is that we live in an ever changing world and knowing the safety of the countries to which you’re sending your employees is step one in a comprehensive safety plan.
Evaluate the Options
Once you know what risks you’re dealing with, it’s time to investigate the options and make an informed decision about how to move forward. Travel insurance will be an essential part of your final game plan, but first you must understand what’s typically included and what isn’t. For the most part, travel insurance will always include accident death, accidental dismemberment, lost or stolen property, auto liability, employer liability, medical expenses, general liability, foreign voluntary workers compensation, evacuation and reparation.
Most travel insurance will also cover kidnap and ransom – but only in certain countries. As a result, employees who are traveling to high-risk areas should consider additional kidnap and ransom coverage. Countries generally considered high risk include those in Southeast Asia, Central America, the Middle East, and South America.
Monitor and Adjust Travel Insurance and Other Safety Products
Keeping your employees safe isn’t quite as simple as looking into travel related products, deciding what to purchase, and moving on to the next task at hand. The reality is that this is a field that’s changing every day and it’s essential for management to stay ahead of the curve. For example, some areas have local laws that affect a company’s ability to have a single, global travel and accident health care policy for employees who travel internationally. The rules vary state by state, and in some cases city by city, and it’s essential for management to be informed when these changes take place.
The Bottom Line
There is no single product or type of travel insurance that will cover every employee for every overseas trip. Instead, it’s essential to take the above three-prong approach: investigate the areas in which your employees will be traveling, investigate the options available to you and purchase the necessary products, and stay up to date as laws, regulations, and coverage changes.