Top privately owned provider of travel insurance, Travel Insured International, has launched a new option geared toward providing coverage to corporate travelers.
The new product is called the Corporate Travel Protector and it is designed to provide coverage for medical evacuation, emergency medical, and travel delay expenses, and is being sold at a reduced rate when compared to traditional trip cancellation plans. This particular product was created to make sure that even if the corporate travel manager decides not to buy coverage for the full company, it is still possible for an individual traveler to buy it at a decreased price.
Isaac Cymrot, the director of sales and industry relations for the insurer explained that the product was created based on “overwhelming feedback” which indicated that most companies would prefer a plan that had a reduced cost, even if it meant that trip cancellation was not a part of its benefits.
He explained that “Our corporate travel partners asked us to focus on emergency medical and medical evacuation benefits,” and that they believe that travel delay is equally important to a corporate traveler.
They used the feedback that they received from a wide range of top corporate level partners in the creation of the plan.
According to the president of Missouri-based Acendas (formerly known as All About Travel), Brent Blake, the marketplace is showing a heightened awareness for the types of benefits that they want but that aren’t necessarily being offered by the typical travel insurance plan. He added that they are seeing the value in being able to buy this type of coverage for their companies’ travelers.