If your company is resuming international travel following the pandemic, it’s important to have a robust international insurance program in place to make sure your employees are protected wherever they go.
At Schauer Group, our advisors recommend businesses provide the following international coverages for teams that are traveling abroad:
Travel accident
An international travel accident policy provides your employees with 24/7 accident protection during business trips – and during any personal activities or side trips they take while abroad for business.
A travel accident policy will cover:
- Medical expenses – including hospital admission, medical evacuation and return to country of residence – in the event of illness or injury
- Additional benefits in the event of accidental death, paralysis, dismemberment, or loss of speech/hearing/sight
Typically, a travel accident policy will cover all full-time employees, along with their spouses/domestic partners and dependent children who are on the business trip with them.
Kidnap/ransom & extortion
Kidnap/ransom & extortion insurance is crisis coverage that ensures your employees receive immediate assistance in the event of a variety of emergency situations, including:
- An advisory, written expulsion notice or seizure of business property that requires evacuation
- Child abduction
- Kidnapping
- Disappearance
- Hostage situation
Kidnap/ransom & extortion insurance provides access to a 24/7 hotline for initiating crisis response and provides reimbursement for some associated costs.
Foreign package policy
Some countries require travelers to purchase local insurance for certain activities, such as renting a vehicle. In those situations, a foreign package policy can provide supplemental coverage to fill in the gaps in any required, locally purchased insurance.
Areas where the policy can offer additional coverage include:
- Auto liability
- Medical payments
- Workers’ compensation coverage in the event of bodily injury resulting from employment duties or conditions
- Evacuation and relocation expense coverage for employees in situations of a political or security emergency or a natural disaster
In addition to securing appropriate international travel coverage, Schauer Group advisors also recommend that companies encourage their employees to follow best practices for traveling abroad, including:
- Notifying your bank if you anticipate using your own credit or debit cards
- Making sure your passport will be valid for at least six months following your return date and that it still has at least two blank pages
- Making copies of important documents (passport, driver’s license, itinerary) and leaving them behind with a family member or friend in case original documents get lost abroad
- Determining whether a visa is required for the country you will be visiting
- Obtaining an International Driving Permit before leaving if you plan on driving abroad
- Taking your insurance ID cards on your trip
- Adding any insurance hotline numbers to your contacts ahead of time so the information is easily accessible in case of an emergency
- Reviewing the U.S. Department of State Traveler’s Checklist for required documents, recommended vaccines, and safety tips.
The team at Schauer Group is available to advise your company and employees ahead of any international travel plans. If you’d like to discuss further, please reach out to your Schauer Group representative.
About Schauer Group
Schauer Group, Inc. is an independently owned insurance and risk management advisory firm, providing risk management, business insurance, human capital services, employee benefits, contract surety, and personal insurance to clients nationwide. With an industry-leading 95 percent client retention rate, Schauer Group is committed to attracting and developing the region’s top talent and giving back to the communities where associates live and work.
Note: This communication is for informational purposes only. It is not intended to be construed as legal or financial advice and should not be relied on as such. No material contained within this website should be construed or relied upon as providing recommendations in relation to any specific legal, financial, investment, or insurance product. Before making any commitment of a legal, financial, investment, or insurance nature, you should seek advice from a qualified and registered practitioner or adviser who can appraise your specific needs. Schauer Group, Inc. disclaims any and all liabilities incurred as a result of reliance upon the information presented herein.
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