April 19, 2017
“Our people are our most valuable asset.”You see it on websites. You’ve heard business leaders say it in public forums. It or a similar statement is probably in your company’s employee handbook.Businesses do have duty of care obligations to safeguard their employees. And most companies have sophisticated safety programs in place to protect workers in dangerous or hazardous jobs.However, relatively few businesses have comprehensive risk management programs designed to protect the health, safety and wellbeing of all of their employees, at all times. Instead, “people risk management” in many organizations typically covers compliance or conduct risk; the consequences of employees not following corporate policies, procedures or rules.Another indication of the relative priority of people risk management within an organization is how it supports employees traveling for business. For instance, the primary resource many organizations offer their business travelers is a 24-hour hotline they can call if, say, their flight is canceled.That’s certainly useful. But is it enough?A long way from homeIn today’s highly globalized economy, companies are doing business in more locations and in more far-flung corners of the world.And yet, according to research sponsored by International SOS:
- 80 percent of travelers had concerns about safety abroad, but less than half research security issues pre-travel
- 71 percent of senior executives had medical problems abroad, but only 15 percent assess healthcare pre-travel
- Nearly 1 in 3 trips abroad are to countries with higher risk ratings than the traveler’s home country.
Also, risk by definition is amplified whenever someone is away from his/her home base. We’ve all had some – maybe many – testing experiences when traveling to a different city or country.There can be language or cultural issues. Luggage can be lost or money stolen. Access to quality healthcare in an emergency may be limited. A traveler may not know where it’s unsafe for an outsider to venture. Transit strikes, civil strife or natural disasters can create chaos.
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Global Asset Protection Services, LLC, and its affiliates (“AXA XL Risk Consulting”) provides risk assessment reports and other loss prevention services, as requested. This document shall not be construed as indicating the existence or availability under any policy of coverage for any particular type of loss or damage. AXA XL Risk. We specifically disclaim any warranty or representation that compliance with any advice or recommendation in any publication will make a facility or operation safe or healthful, or put it in compliance with any standard, code, law, rule or regulation. Save where expressly agreed in writing, AXA XL Risk Consulting and its related and affiliated companies disclaim all liability for loss or damage suffered by any party arising out of or in connection with this publication, including indirect or consequential loss or damage, howsoever arising. Any party who chooses to rely in any way on the contents of this document does so at their own risk.
US- and Canada-Issued Insurance Policies
In the US, the AXA XL insurance companies are: AXA Insurance Company, Catlin Insurance Company, Inc., Greenwich Insurance Company, Indian Harbor Insurance Company, XL Insurance America, Inc., XL Specialty Insurance Company and T.H.E. Insurance Company. In Canada, coverages are underwritten by XL Specialty Insurance Company - Canadian Branch and AXA Insurance Company - Canadian branch. Coverages may also be underwritten by Lloyd’s Syndicate #2003. Coverages underwritten by Lloyd’s Syndicate #2003 are placed on behalf of the member of Syndicate #2003 by Catlin Canada Inc. Lloyd’s ratings are independent of AXA XL.
US domiciled insurance policies can be written by the following AXA XL surplus lines insurers: XL Catlin Insurance Company UK Limited, Syndicates managed by Catlin Underwriting Agencies Limited and Indian Harbor Insurance Company. Enquires from US residents should be directed to a local insurance agent or broker permitted to write business in the relevant state.