Handle With Care

In a post-panic world, smart travel programs will work to anticipate – and mitigate – the risks
Looking ahead to the world as it emerges from the COVID-19 crisis, business travelers and the companies that send them face a daunting balancing act: managing current risks while working to reboot their businesses. So it’s more important than ever for travel managers to understand insurance needs, company risks and business continuity, and best practices for traveler safety.

While domestic business travel is beginning to open, international travel remains crippled and the notion of “getting back to normal” is still a far cry from reality. As it stands, shrinking economies around the world, along with bankruptcies and consolidation across the travel industry will necessitate a rethink of business travel policies and providers, which may create a “one step forward, two steps back” scenario for many months ahead.

The pandemic response is driving almost daily changes to travel providers’ policies and confusing (and sometimes contradictory) health guidelines from different sources. In such an environment, rebuilding trust in travel will be the primary driver behind decision-making.
“With a pandemic like COVID-19, employers and employees now have to assess a risk which is quite different than a political or natural disaster risk, and a risk that is worldwide, so employers need to exercise caution for domestic travel as well,” says Dominick Zenzola, vice president and senior manager of accident and health underwriting at global insurer Axis.

Duty of Care and Risk Management

Categories: Special ReportDuty of Care and Risk Management

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