Business Travel Accident Insurance: Mitigating Corporate Liability Trends
Next time you find yourself in a major airline terminal on a weekday, take notice of how many of those sitting about you are wearing a suit or carrying a briefcase. In the financial services world, many of us spend a lot of time on the road. The frequency with which we find ourselves in hotel rooms fighting jet lag, preparing for early morning meetings seems to be increasing as business relationships expand further across the country and across the world. In the digital age, no longer is business anchored in our own backyards. If we want to stay competitive, to effectively court a prospect or attend a trade convention, we have to push past complacency. Even though much of our business today is transacted electronically, it usually pays to hit the road or board a plane. From a sales and service perspective, the face-to-face meeting is essential for customer reassurance and satisfaction. Similar circumstances arise in most other industries; if you want to make an impact on present or prospective clientele, you must be willing to travel, to make house calls. No matter if your client is in Rochester or Rwanda, it is imperative to keep your services mobile and immediately available.
And with so many executives, contractors and salespersons traveling throughout the United States and abroad, many American businesses have inadvertently opened themselves to a number of liability issues of varying potential severity. One looming catastrophe would be the untimely death or the serious injury of a traveling employee, ultimately causing a firm to be subject to legal and financial scrutiny over possible corporate negligence resulting in a business-killing lawsuit or lawsuits.
Besides keeping your fingers crossed, the surest and most efficient method of limiting a company’s potential loss or overbearing liability is the implementation of a comprehensive business travel accident (BTA) program which may or may not include Accidental Death Insurance, Dismemberment Insurance, Accidental Disability Insurance and Accident Medical Insurance. Corporate BTA plans are designed to insure the employees and owners who travel on behalf of a company for business purposes. Policies are available on an individual or “blanket” group basis and can be created to cover risks in any country on the planet including war zones and nations rooted in political turmoil and terrorism.
Additional variables include benefits for spouses and dependents as well as coverage during incidental personal vacations. Policies offered by Petersen International are very flexible and can be molded and augmented to suit the desires of a human resources team or employee benefits manager.
Call us today to learn more about the thorough business travel accident programs available from Petersen International.