Travel Insurance ONLY for Baggage & Personal Items

[dairyfloss]

Hi Folks,

I have a situation I would like some advice on, or experiences with. The company I work for has decided in all their omnipotent wisdom, that they no longer have a need to supply comprehensive business travel insurance for their staff around the world, on business trips. Instead, they will continue to provide Business Travel Accident insurance (death & disability + kidnap & ransom), rely on local workers compensation plans for medical and some others, and self-insure for the rest (self-insure meaning the company takes the risk that it might have to pay something, from time to time). Great!...

There is something left out after all this, though, which is what the current insurer segments as 'Baggage/Business Property/Electronic Equipment/Money/Travel Documents'. The company has confirmed it will self-insure on Business Property, but will not cover or reimburse for the loss, theft or damage to any personal items, including baggage. Carriers will generally provide [some] cover if they are at fault, but nothing remains for the time spent at the destination/s.

My question (after that long-winded background!) is this: Does any insurer in Australia (and/or any part of the Asia Pacific region, if known) provide such specific cover in isolation from a larger policy? I have been searching and am currently unable to find anyone that does. It is always an add on, or included with a plan that overlaps most of what the company will cover. If they do want it, employees will need to pay for cover themselves. It would be good to have options which are not inclusive of all the overlap. I also hope it is a tax-deductible work-related expense, for those that do incur it. I'm guessing 'yes'.

Appreciate the advice!

Cheers,
Matt.

 

[RB]

Quite a few years since I used it but worldcare.com.au used to have an option where you could choose which "sections" of cover you wanted to have.

 

[dairyfloss]

Quite a few years since I used it but worldcare.com.au used to have an option where you could choose which "sections" of cover you wanted to have.

Thanks, RB - unfortunately it would seem they no longer do. They did come up in an earlier search I had done, but the lowest cost option they have with this included was about $70 per trip for a typical 1 week run to Asia, as we tend to do most often.

 

[Happy Dude]

Your employer is being extremely irresponsible, perhaps even illegal, in expecting employees to travel without adequate medical insurance. That "self-insure" bit is worrying. Perhaps they'll set up a gofundme?

Anyways, I can't offer any specific answer for you. I would investigate a self funded policy, preferably salary sacrificed but its definitely tax deductible, and just cop the overlap. Just make sure that it covers business travel.

 

[Archphoto]

Not sure how many trips you're doing a year, but an annual policy would suit your situation - usually for up to 90 days no limit to the number of trips. I used to get full coverage through ACE - $395/yr.

This probably isn't that helpful in answering your initial question, but if I was in your situation, I'd be paying for this out of my own pocket. It is tax deductible and you will be flying with peace of mind - too many "what ifs" in their scenarios and I'd not be willing to risk it.

I worked with a photographer for many years and the team was covered by the insurance that was included with his equipment premium. Luckily, I also had my own, which saved me being 2k out of pocket when I had to purchase a VA ticket due to a delay in Bali. Seems it was null and void if we weren't actually traveling together - pretty useless as we often did. My colleague didn't have his own - he waved goodbye to 2k, I got it all back; I never travel without my own the risk just isn't worth it.

 

[dairyfloss]

That "self-insure" bit is worrying. Perhaps they'll set up a gofundme?

Haha! Best not to suggest that to them, they might just run with it and cut the remaining covers as well!

They're hardly short of cash, and so I'm not overly concerned about the self-insurance aspects of it. I'm also ok with different parts of business travel being covered by different insurance policies and plans, so long as it covers all, in the end (and I have it on good authority that it does). Unfortunately, it ended up missing the mark on anything I might bring with me on the business trips... except for business equipment. This is enough for me to want to try and fill in the gap.

I'm also looking at whether I can use a personal card rather than using my corporate card to pay for the flights. This should then get me cover, gratis, from my card provider to the same or greater extent that I have currently at the company. I know they are a bit funny about using personal cards for company expenses (connected to the rebates they get, I'm sure), but also not hard to justify it here, given the personal increases in either exposure or expense.

Cheers.
Matt.

 

[Happy Dude]

The credit card idea is good as you'll reap some points too.

I'd be wanting something in writing regarding self insurance just to be sure that some of their cash isn't withheld at your the expense of your health. There's just too many what ifs. They're probably thinking "visit to the GP" but it could easily be "medivac to a suitable hospital". WRT to relying on the workers compo of Asian countries, how many actually have this in place and are Australian citizens eligible?

 

[dairyfloss]

The credit card idea is good as you'll reap some points too.

Indeed - it's one silver lining, at least!

I'd be wanting something in writing regarding self insurance just to be sure that some of their cash isn't withheld at your the expense of your health. There's just too many what ifs. They're probably thinking "visit to the GP" but it could easily be "medivac to a suitable hospital". WRT to relying on the workers compo of Asian countries, how many actually have this in place and are Australian citizens eligible?

It's been reviewed by our OH&S head for Australia and the region, and they are 'OK' that the essentials are addressed. Our local legal are also going to review and make sure there's nothing they are concerned with. I'm not sure about how local workers compensation works in Asia, but I know that an Australian travelling on business overseas is covered for medical (except the usual 'pre-existing conditions') by their plan from home. You've touched on one of the concerns that exists, though, which is that medivac is not covered by Aussie workers comp, no matter how ill someone becomes, and so we would be reliant on the 'self-insurance' for that, I think. This is perhaps OK if I only frequent 1st world locations... but I'd sure as hell want to be jetting home if something happened in a 2nd or 3rd world location, both of which I visit often.

I'll update the thread later with the outcome, and whether I find any stand alone insurance that works for me. We use a broker for all our various insurances, and they'd probably know better than Google about whether this cover is available. I'll get in touch.

Cheers,
Matt.