Company Retreat Insurance: How to Protect Your Team and Events Abroad

While it is not something we want to think about, it is something every company retreat organizer needs to plan for: What if something goes wrong? What if we damage something on site? What if the venue falls through? Or worse, what if someone gets injured abroad?

All very gloomy perspectives when planning an exciting team bonding event, but it would not be reasonable to go abroad with a group of employees without thoroughly examining the company retreat insurance coverage.

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Insurance for Company Offsites: The Basics

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Do you really need insurance for a corporate retreat? The short answer is absolutely!

Depending on your country's laws, most companies will already have employers' liability insurance, which covers claims made by employees who suffer work-related injuries or illnesses, as well as public liability insurance, which protects businesses and individuals against claims by third parties during regular working operations.

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Is business travel insurance enough for an offsite event?

Although the requirements may vary depending on the country of origin and destination, companies typically need to add business travel insurance and event insurance. The former usually covers the employees' health, liability, and activities during the trip. The latter typically covers the business for risks during the event or retreat location, including liability from accidents or cancellations. They can be one-off single-trip policies or, if you are a team that travels multiple times a year, it might make sense to take on an annual multi-trip policy, which will be more cost-effective.   

As soon as you start planning the retreat, check with your insurance company to determine what coverage you currently have and ask if you will need an additional package for that specific trip.

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What should the company be covered for during a company offsite?

Be sure to read the fine print and ask all the necessary questions.

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Company retreat insurance: Essential coverage you want to think about

Ensure your coverage aligns with the country of destination, the type of activities you plan to engage in, and any pre-existing conditions your employees may have that could impact the coverage. The other essentials you need to think about are: 

• Emergency medical expenses will cover hospitalization, repatriation, and other urgent healthcare costs.
• Trip cancellation will protect prepaid expenses if the event is canceled or cut short due to unforeseen events.
• Personal liability, which will protect the company against claims if an employee causes accidental damage or injury while abroad
• Baggage loss/delay will make sure you are compensated for stolen, delayed, or lost property.
• Travel assistance will provide 24/7 support while abroad.
• coverage for activities during the retreat

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Factors That Increase Company Retreat Insurance Costs

It is not easy to determine an average cost for team retreat insurance, as multiple factors will influence the coverage cost. Indeed, your destination, whether it is a regional or international trip, the type of accommodation you choose, the length of your stay, the number of attendees, as well as the type of activities you will participate in, all will impact the final cost.

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"High-Risk" Activities That Impact Insurance Pricing

• Water-based activities such as rafting, kayaking, sailing, or even swimming, in some cases. Primarily due to drawing risks and other water-related accidents.
• Adventure and climbing activities, such as rock climbing or via ferrata. These types of activities, which involve heights or complex gear, are considered high-risk.
• Motorsports: driving go-karts, quad bikes, or participating in other motorized events are often classified as high-risk activities for injuries.
• Paintball, airsoft, and shooting events: Any activity involving the use of projectile equipment or firearms is considered high-risk.
• Fire and extreme activities such as fire walking, fireworks, or bungee jumping.

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Not to worry, that does not mean you cannot shoot your coworker with food coloring-filled gelatin shells in the Swedish forest! Many retreat attendees enjoy the activities listed above during their gathering; it is just about being properly prepared and covered, as well as ensuring that your activity provider is a reliable professional with their own insurance.

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High-Risk Retreat Destinations That Impact Insurance Pricing

Some destinations drive insurance costs up as well:

• North America or Australia due to high medical costs
• Very remote destinations such as rural Africa or the Arctic region
• Countries that are currently politically unstable or considered "security risks"

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On the other hand, Western Europe, Japan, or New Zealand are considered low risk, and usually have lower insurance fees.

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How to Get Started With Retreat Insurance Planning

So you've been tasked with organizing the next team retreat and have no idea what this insurance thing is all about? No need to panic.

Contact your current business insurance provider to discuss your plans.  

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Make sure you provide them with all essential information, such as:

• Event Details: Dates, location(s), duration, and whether the retreat is domestic or international.
• Number of Participants: Total number of employees attending, including their ages, and any special needs or pre-existing medical conditions, if relevant.
• Activities Planned: Details of any physical, outdoor, or higher-risk activities
• Travel Arrangements: Information about flights, transport, accommodation, and whether the travel is prepaid or refundable.
• Coverage Requirements: Any specific coverage types needed, such as medical, trip cancellation, public liability, employer’s liability, event cancellation, or equipment insurance.
• Budget or Estimated Trip Cost: Total estimated cost of the retreat or per-person cost to help calculate the premium.

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With this information at hand, they will help you determine what is currently covered and what needs to be added ahead of time.

No one wants to think about the worst when planning an exciting event. Reading the fine print and understanding the different types of coverage can be daunting, so do not hesitate to ask for help, either to a colleague who has done it before, to your current insurance, or the company you hired to organize your retreat. Having the right coverage will give you and your team peace of mind, allowing you to fully participate in the event.