More than just business travel insurance

These days, flexible working in a modern world has driven a trend in ‘bleisure’ travel, which is a term used to describe leisure travel added onto business travel.

‘Bleisure’ travel typically involves business travellers extending their trip to include leisure travel at the start or end of their trip, which may bring a host of benefits to employees, such as savings in airfares, hotels and meals. If an employee decides to add a few extra vacation days to the business portion of their declared trip, they may even get additional discounts for being a business traveller.

With the cost of airfares and medical expenses rising due to inflation, businesses are looking for more ways to reduce their risks while also demonstrating their commitment to the welfare of travelling employees. The good news is when it comes to Business Travel Insurance, leisure travel cover is provided in several different scenarios.

Here are three common scenarios where Chubb’s Business Travel Insurance policy covers elements of leisure travel – making it more than just business travel insurance.

1) Incidental private travel for all employees

 Chubb’s Business Travel Insurance policy provides cover for the policyholder’s employees for incidental private travel, which means employees are covered when they add some leisure travel onto their authorised business trip, whether domestic or international. Associated travel is increasingly common, so this can be a great employee benefit to offer.

2) Private leisure travel covered for directors and executives

Directors and executives are covered for leisure travel when their trips have been declared within the annual declaration on the policy schedule. This includes both travel within New Zealand as well as overseas.

3) Coverage included for spouses and children of directors and executives

Under the Business Travel Insurance policy, a director or executive’s accompanying spouse/partner and dependent children will also be covered for declared trips.

Beyond it being a risk mitigation tool, Business Travel Insurance offers some other benefits for businesses. The first is that it can be a valuable recruitment and retention tool, forming part of an employee’s benefits package, and ultimately enhancing the organisation’s attractiveness as an employer.

The second is that annual group policies are often more cost-effective than individual policies. Businesses can negotiate favourable rates and terms with their insurance provider, potentially reducing the overall cost of coverage. It also ensures consistent coverage for all employees, regardless of their roles or location. This consistency helps in avoiding misunderstandings and disputes related to coverage. Having a Business Travel Insurance policy in place removes the onus on the employee, executive or director, to have to arrange their own insurance for the leisure portion of their trip, if they have added this to their business trip.

Another key benefit is that the policy benefits and age limits on a Chubb Business Travel policy can be higher and broader than the limits on a leisure travel policy, so the covered person may have more superior cover.

There are some limitations to Chubb’s Business Travel Insurance policy. Please refer to the Policy Wording for the full scope of cover.

Chubb’s Business Travel Insurance policy offers Business Travel Insurance to organisations that have employees, directors and executives who undertake authorised domestic and overseas business travel on behalf of the organisation. At Chubb, we recognise that senior roles are defined differently across organisations, depending on operating structure or legal constitution. Therefore, businesses can work with the Chubb team and their broker to set a policy up in a way that works best for the business.

Chubb's Business Travel Insurance policy can provide comprehensive coverage for businesses and their employees and should an emergency occur while travelling, a team of medical, travel and crisis management specialists will be ready to assist businesses and their employees 24/7.

Learn more about what is covered by Chubb’s Business Travel Insurance policy.