Global Underwriters Newsletter
Before the Covid-19 Pandemic hit earlier this year, the US and Worldwide Travel Industries had been on a steady increase each year since the recession of 2009. As the stay at home orders continue to ease domestically and internationally, business and pleasure travel will slowly start to increase once more. Below are some current travel trends that we are seeing.
- Airlines are enacting policies to make travelers feel safe again, as well as outline security measures (I.E. testing or certification to board flights) that are being taken, in order to allow passengers back on planes.
- There are still hundreds of thousands U.S. Citizens and Foreign Nationals stranded outside their home country.
- Some Domestic meetings that were postponed might be moved to the fall, hopefully creating a strong fourth quarter for hotels and restaurants that were able to reopen.
- International Travel will resume at a moderate pace depending on the country, but it will probably take 3-6 months minimum before things start to look normal again.
Global Underwriters is fully operational and ready to continue serving you, our valued agents and your clients. We are available anytime to assist you with identifying and establishing new pipelines of business and recommending travel risk management strategies to you and your clients. Global Claims Administration continues to seamlessly adjudicate claims worldwide, some of which are related to Covid-19. Our management team continues to closely monitor both state and federal governmental actions to provide optimal assistance through the evolving phases of this pandemic.
Many of you and your clients are still not traveling, there are hundreds of thousands of businesses and leisure travelers that have not returned home yet. Some of these stranded travelers were on vacation or maybe visiting family and friends, while others may be on temporary work/volunteer assignments in a foreign country. Regardless of what the situation is, keep an EYE out for opportunities to help these people and keep in mind that some of them may be working in jobs that are considered “essential to the workforce” even though they are working / volunteering in a foreign country. Immediately below, please find a short-list of some of those essential industries - Healthcare/Public Health; Law Enforcement, Public Safety, and First Responders; Energy & Gas; Transportation & Logistics; Educational Institutions; Communications & Information Technology; Manufacturing; Professional Services; Faith Based Organizations; Non-Profits & Non-Government Organizations; and the Defense & Aerospace Industry.
As we continue to navigate the rapid changes of a world impacted by Covid-19, you may be wondering how Global Underwriters can continue to educate and help your current and prospective clients during these difficult and unpredictable times. Immediately below are three domestic and international group products that you can educate your clients on right now. We are privileged to serve you and we are ready to earn your business whenever and wherever you need us:
Business Travel Accident insurance:
Business travel within the U.S. will increase as companies and organizations begin to schedule events, meetings, and visit clients. Business Travel Accident (BTA) can drastically mitigate the financial expenses for a company or organization when an accidental death, dismemberment, disability, emergency, or medical condition occurs while an employee or group member is traveling on behalf of the organization. BTA coverage can fill in the gaps, if the company has Inadequate or underinsured group life coverage for their employees that have travel exposure (domestically or internationally), as well as any gaps for domestic accident medical expenses, if the insured has a Limited Medical Plan that responds more like an HMO. Out of Country Medical would include both accident & sickness coverage. This highly customized product considers current corporate risk profiles, duty of care obligations, and best practice procedures which help to ensure the safety and security of your client’s business travelers.
If your client needs Business Travel Accident insurance, we would love the opportunity to earn your business. Find Out More Now!
Domestic Special Risk Accident:
We have many existing clients that have volunteers, part-time staff and participants working at food banks, shelters, or on natural disaster response teams, etc. that are rarely covered by workers compensation policies - they need domestic Special Risk Accident coverage to help fill in the gaps and mitigate financial exposure for the organization that they work for. These plans are easily tailored and typically include - Accident Medical Insurance, Accidental Death & Dismemberment, and Ambulance coverage for volunteers, employee’s, students/faculty, and volunteers while traveling on business, sports teams, special events, camps, mission and humanitarian trips, field trips or school sponsored activities. Accident coverage is also available to cover children and faculty for daycare coverage.
If your client needs Domestic Special Risk Accident insurance, we would love the opportunity to earn your business. Find Out More Now!
International Travel Medical (group & individual):
Help provide peace of mind to those that are stranded, working, volunteering, or providing faith based services abroad. These policies typically include travel medical (accident & sickness), emergency medical air evacuation/repatriation, accidental death & dismemberment benefits, political & natural disaster evacuation, and 24 hour multilingual worldwide assistance services
If your client needs International Travel Medical, we would love the opportunity to earn your business. Find Out More Now!
Contact US Today for more information about our valuable Group and Individual International Travel Plans and let Global Underwriters get to work for You!
Be Sure to keep a look out for our July 2020 Issue about Niche Special Risk products!
Thank you for your Business!