Chase Accident & Health - what's new for 2025

Why is Corporate Travel Insurance a business necessity?

While often seen as a non-essential expense, Corporate Travel Insurance (CTI) becomes an indispensable risk management tool when you consider the financial and personnel risk associated with international travel, and in particular, medical treatment and travel disruptions.

Here are just a few real-world examples:

• Medical costs overseas can range from $3,000 to $50,000 per day in countries like the USA, Switzerland, Singapore, and the UAE.
• Emergency medical evacuations back to Australia can now exceed $150,000, especially following the COVID-19 pandemic.
• Surgical procedures, such as an appendectomy in Japan, can cost between $20,000 and $30,000.

Even within Australia - where Medicare and private health insurance typically apply - CTI adds value by covering the often substantial costs or losses of trip cancellations, baggage loss, and rental vehicle excesses, which can be as much as $10,000 or more.

Key benefits of Corporate Travel Insurance

A well-structured CTI policy includes a variety of valuable benefits to the employer and their employees:

• Hire Car Excess: Covers the often-inflated excess payable under car rental agreements in the event of an accident, reducing reliance on costly car rental insurance.
• 24/7 Emergency Assistance: Round-the-clock support available to travelling personnel.
• Alternative Employee Cover: Covers the costs of temporarily replacing an employee who becomes ill or injured during a trip with replacement personnel.
• Coverage for Accompanying Family Members: Chase policies can extend to cover spouses and children travelling with employees.
• Leisure Travel Inclusions: Chase can cover leisure travel when declared in advance under a primarily business-focused policy.
• Business Equipment Cover: Protects laptops, phones, and personal effects, though higher-value items and specialized tools may require separate policies.
• Electronic Equipment Limits: Typically up to $15,000 or higher depending on the Insured requirements.
• Employee Benefits: These and other benefits are often promoted by employers as benefits to attract and retain talented employees.

What’s not covered?

While CTI offers comprehensive protection, there are some standard exclusions:

• Government-imposed lockdowns or border closures
• Disinclination or change of mind to travel
• Insolvency of travel providers
• Travel against medical advice

Increasing global entry requirements: Insurance is now mandatory

Many countries now require proof of travel insurance as part of their visa or entry processes. This ensures travellers can cover their medical and emergency expenses, safeguarding local health systems and businesses from unpaid bills.
Countries with mandatory insurance requirements include:

• Singapore
• Thailand
• United Arab Emirates
• Nations within the Schengen Area (Europe)

For the latest updates, visit Smart Traveller.

How to arrange Corporate Travel Insurance

To obtain a Corporate Travel Insurance policy:

1. Contact Chase.
2. Complete a Travel Declaration, outlining anticipated business and leisure travel for the year.
3. Annual policy premium is based on the number of trips declared, Benefit levels requested and previous loss history.

Broker toolkit

Please refer to the A&H webpage for resources to explain the benefits of this cover for clients and information to obtain a quotation:

• Client Flyer - Why Corporate Travel Insurance is a business necessity?
• Leisure Travel for brokers & MGAs - enhance revenue by providing clients with simple access to discounted travel insurance
• Proposal Form

Proclaim appointed as Claims Manager

After a lengthy evaluation process, we are delighted to announce our partnership with Proclaim as our new Claims Manager for Corporate A&H claims, effective December 31, 2024. We are confident that Proclaim's services and platform will provide an enhanced claims service for brokers and our mutual clients.

To further streamline the claims process, we are developing an online claims form, which will be available soon. Stay tuned for updates. In the meantime, please refer to the Product Disclaimer Statement (PDS) or our claims webpage for more details on claim lodgement procedures.