September 04, 2019

"Managing travel risk is important for all organizations, regardless of size. Investing in a Travel Risk Management (TRM) program helps your travelers avoid problems, ensures help is available if your travelers need it, and protects your organization from financial loss in the event of something happening."

Bruce McIndoe, Founder of WorldAware, contributed an article to GBTA about challenges that small businesses may face when it comes to travel risk management. He offers the essential elements of a travel risk management program as well as the basics of a travel risk policy. A travel risk policy includes the following elements:

  • Policy Scope
  • Policy Aim and Objectives
  • Roles and Responsibilities
  • Travel Planning and Approval
  • Travel Risk Assessment
  • Incident Reporting
  • Insurance

The article says, "Overall, the objective of a travel risk policy is to help keep an organization and its people safe from harm and risk. By implementing the essential elements of a travel risk policy outlined here, you can help ensure the health, safety, and security of your travelers while protecting the organization legally and financially."

For more information on travel risk management for small organizations, read the full article. In addition, “What Should be in a Travel Risk Policy?” posted in Security Magazine is a more detailed article on writing a Travel Risk Policy.