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Oversees travel allowance and policy
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Chrm Message From: Malathy Total Posts: 3 Join Date: 27/02/2006
Rank: Beginner Post Date: 10/04/2006 22:18:58 Points: 15 Location: India

This is Malathy Krishnan. I head operations at a training & consultancy organization at Bangalore. We are revising our policies to fit in overseas policy as well. To start with I would like to hear your thoughts on this - We have a consultant who is traveling to the UK to deliver a training program; all expenses with regard to the travel is borne by the client. What then is the approximate amount of foreign exchange this can person carry (only for out of pocket expenses)? What is the best currency to carry - Pounds or USD or Euros?

It would also help if you could also share the clauses that the oversees policy should have. 

 

Thanks and Regards

Malathy

 

Chrm Message From: Jyoti Rani Total Posts: 65 Join Date: 27/02/2006  
Rank: Manager Post Date: 09/02/2009 03:55:10 Points: 325 Location: India

Dear Mr. Krishnan,

In terms of currency while travelling abroad, it depends on, which set of countries you are dealing with frequently in business, accordingly you can decide the currency, if your business is more in UK you can go for pound, as its the local currency and its easy to deal with the local currency for the traveller.

In our company we deal with UK, US, Japan, Europe, so travel is more in these countries, what we did was we took the respective currencies of these countries and frozen a particular amount for a day to be given in pound, dollar, euro, yen and we tried to equalize it in INR (and for other countries it was standard USD), this needs to be checked on time to time basis as currencies keeps on fluctuating, one has to take care of variation too. In terms of freezing the DA, you need to do the cost of living analysis of that particular country and need to also benchmark the DA amount as per your industry standards.

Clauses of overseas mediclaim, are you talking about the policy then, one needs to purchase the policy and clauses are already there in the literature of the policy purchased. Only the travelling person must carry the original policy (in some embassy's while processing visas they take the original with them, so a duplicate copy can be requested from the concerned through whom you are purchasing the policy), in case of any treatment all bills must be preserved and need to be claimed after coming back in India and theres a coverage on luggage part,in case of any loss, immediately one must inform the admin team in India to coordinate with the insurance company.

In case your second part of question is related to overseas travelling policy, do let me know, i will share some.

Hope my points help you to an extend.

Regards

Jyoti

 
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