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Gallagher urges caution over corporate travel

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Gallagher says businesses should give careful consideration to corporate travel in the current environment.

The broker will hold a webinar on the issue on July 7, warning that travel insurance is unlikely to respond to pandemic-related issues.

“As COVID-19 restrictions ease, businesses making plans for travel should be aware that the intention of insurance is to cover sudden and unexpected events,” Gallagher says.

“Given travel restrictions and the high level warnings have been in place since 18 March this generally means travel insurance for COVID-related impacts is not available.”

Gallagher says insurers take different approaches to cover and assessment of claims and policy wordings may vary.

“All insurers are continuing to monitor the situation, and their position on what is and isn't covered continues to change. Before making any plans ensure that you understand your insurer’s response to COVID-19.

“Consider carefully whether business travel is necessary or justified in the current environment.

“The need to bring employees back to Australia in the event of an emergency and the risk of incurring COVID-19 cancellation losses should be factored into your business continuity plans.”

Click here to register for the Gallagher travel insurance webinar, which takes place on July 7 from 2-3pm AEST.