Global specialist insurer Beazley has introduced its first business travel product to the Australian market.

Beazley Corporate Travel Insurance covers overseas emergency medical costs, travel disruption and booking cancellation costs.

Underwriter Andrew May says Dublin-based Beazley will appeal to brokers with its ability to tailor products.

“As a specialist insurer we are able to offer a product that is clear and easy to understand and to use, something we believe will appeal to brokers and their clients,” he said.

“We have offered non-business travel insurance for seven years and felt it was timely to expand our offer to the business travel insurance market, to take advantage of the maturity and relative stability of the local market.”

The product protects businesses from losses including personal accident and sickness, theft and damage to property, rental vehicle excess, personal liability and extraterritorial workers’ compensation benefits, plus evacuation in case of political unrest or natural disaster.

Last year’s Annual Global Report & Forecast from the Global Business Travel Association shows Australia ranks 13th in the world for business travel spending.