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Knowledge Center Items Business Travel is Back…and So Are the Risks

Business Travel is Back…and So Are the Risks

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While there has been a lot of guessing as to how quickly business travel will rebound post pandemic, visit any major airport and you’ll see long lines of travelers with laptops in tow. More and more C-suite employees and others are now taking to the skies–and roads–making their way to client meetings and conferences around the country. This activity will only increase as international pandemic restrictions are lifted.

There is a lot to consider when employees travel for business, whether domestically or internationally, including providing them with an extra layer of protection should they become ill or have an accident while away. Employers have a duty-of-care obligation to ensure the care and safety of employees, a responsibility further underscored in the age of COVID. The solution? Making Business Travel Accident (BTA) insurance an integral component of a company’s risk-mitigation strategy.

What Does Business Travel Accident Insurance Cover?

Typically, a BTA policy includes accidental death & dismemberment, emergency medical & security evacuation, repatriation of remains, and 24-hour worldwide travel assistance.

"Business Travel Accident insurance became widely popular post-September 11," explains Nelcy Caceres, RPS Area Vice President. "In addition to the standard benefits provided, additional coverage options may be purchased.

"One of these critical optional benefits is out-of-country medical expense coverage, with many clients now adding it to their BTA policy post-pandemic as international travel opens up," she continues. "This protects employees outside their home country in the event of an unforeseen medical emergency such as COVID. Employees who become infected with the virus will have coverage for hospital bills up to a maximum of $250,000 with a zero deductible."

Other costs covered under the out-of-country medical expense option include physician or registered nurse services, ambulance service to or from the hospital, lab tests, radiological procedures, anesthetics, blood transfusions, and physical and occupational therapy, among others.

Introducing: The Severe Infectious Disease Enhancement

In the wake of COVID, in addition to having BTA insurance, employers can now purchase a separate endorsement to provide employees coverage in the event of a severe infectious disease outbreak while traveling on a business trip domestically or internationally.

"This endorsement helps employers mitigate the risk of exposure to a severe infectious disease, including COVID-19, covering the transportation cost to evacuate and the cost of employees to get tested if they are notified of a direct exposure or show symptoms of exposure," says Caceres.

"It also helps cover the costs of lodging and meals due to a government-mandated or physician-ordered quarantine and pays an indemnity benefit should an employee test positive for a severe infectious disease, including for COVID-19."

Spouses and children traveling on the business trip with insured employees can also be covered.

A BTA policy along with the out-of-country medical option and severe infectious disease endorsement is a cost-effective risk-management strategy for companies.

"We are seeing increasingly more employers requesting this coverage, particularly now as business travel is getting back on track," says Caceres.

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