Kathmandu. Delays, medical emergencies and combined work-life balance are increasingly emerging as a major insurance gap in business travel in the Asia Pacific region.
A recent report by the Zurich Insurance Group shows this. The report, based on a survey of 4,000 international business travelers from eight countries in the Asia-Pacific region, revealed that many workers are travelling more but their insurance coverage does not match the risks they face. “By 2025, 80 per cent of business travelers said they experienced at least one disruption and 53 per cent experienced an incident or emergency while abroad, the report said.
The most common problems are flight delays (52 per cent), local transport delays (24 per cent), lost baggage (23 per cent), baggage delays (23 per cent) and changes in visa or entry requirements (12 per cent). Damage or theft of valuables was common in the context of these incidents. While 13 percent required medical or hospital treatment. One in five, or 20 per cent, said they had experienced a natural disaster, geopolitical hazard or social unrest while travelling for work.
The report said medical issues are particularly important for insurance companies and employers and can pose significant financial risk. World Travel Protection, a Zurich-based aid provider, said 80 per cent of corporate aid issues in 2025 will be related to medical incidents. However, only 13 per cent of passengers surveyed said they needed medical attention. ’
Emergency evacuees accounted for only 3 percent of the consignments, but the cost was much higher. Air ambulance evacuations typically cost more than $150,000, and can exceed $1 million in larger cases.
According to the report, many home health plans and basic business travel accident policies do not fully cover these types of risks. Insurance issues are further complicated when business and personal journeys overlap. “Eighty-one per cent of respondents plan to combine business and leisure travel in some form by 2026,” Zurich said. Of these, 61 percent plan to include personal time in work travel, 54 percent expect to work remotely from abroad, and 56 percent plan to include work meetings in personal travel. ’
The report also highlighted weaknesses in several corporate policies. This explains why some employers still rely on credit card, travel insurance or basic injury and workers’ compensation coverage. However, this often does not include security assistance, cybersecurity, evacuation or repatriation.
According to Zurich, these weaknesses are now more important. That’s because business travelers face not only medical risks but also cyber threats, civil unrest and climate-related issues. –Agency
