B. F. Saul Insurance Blog

Business Travel Accident Insurance: Essential Coverage

Written by Adrienne Schickert | Sep 6, 2022

Most businesses will do anything in their power to keep their employees safe from the expected (e.g., providing health insurance) to the routine (e.g., detailing safety procedures in the employee handbook) to the unimaginable. No one expects accidental injury or death to occur on an ordinary work trip, but it's a real possibility that any business should be prepared for. That's where business travel accident (BTA) insurance comes in.

What is business travel accident insurance?

Business travel accident (BTA) insurance provides financial protection for businesses, employees, and their families in the event of an accident during a business trip. This can include accidents that occur while traveling to and from work-related events, as well as those that happen during short-term or long-term work-related travel.

BTA insurance provides separate and essential insurance not included in other types of commercial lines, such as workers' compensation or life insurance, but it is not intended to replace those policies. Rather, it fills in essential gaps in coverage, functioning as an “umbrella” policy under which various facets of travel benefits and services can be given to employees while traveling on business without integration into other insurance programs.

What does business travel accident insurance cover?

BTA insurance can cover expenses related to medical treatment, lost wages, and death. It can also provide coverage for travel disruptions caused by an accident, as well as emergency evacuation and repatriation costs. Most BTA policies cover long-term travel for up to a year.

One misconception about BTA coverage is that it is intended only for travel over long distances or extreme circumstances. Depending on the type of coverage, your employees can be covered whether they are going down the block for a business lunch or traveling halfway around the world for a conference. Coverage depends on your company's needs, but could include:

  • Business-only coverage for local, domestic, or international travel
  • 24-hour all risk business & pleasure coverage, for "always-on" employees like the C-suite or those traveling on long-term foreign assignments
  • Occupational accident coverage for high-risk fields in which employees could be injured during their work, regardless of whether they are traveling
  • Coverage extensions for 1099 contractors, board members, and other non-employees

How can you customize business travel accident insurance to your needs?

BTA insurance can be customized to fit the specific needs of a business. For example, some businesses may want to add coverage for trip cancellations or interruptions due to an accident. Others may want to increase the level of coverage for medical expenses or lost wages.

Industry-specific enhancements are numerous but may include:

  • Corporate aircraft coverage
  • War risk coverage
  • Political evacuation
  • Out of country medical coverage

Additionally, most policies come standard with employee resources like assistance with medical evacuation or repatriation.

How do you know if your business needs business travel accident insurance?

A lot of companies think that if they have something like foreign workers' compensation coverage, that is enough to cover the greatest risks during travel. Most accidental death and injury claims come from car accidents. How are your employees covered for something like the ride to and from the airport?

After the outbreak of COVID-19, many businesses cancelled or postponed work-related travel. However, as we saw a rise in remote work, we also saw an uptick in travel by "road warriors" in some fields, especially those in sales and high-contact fields looking to maintain relationships with clients. Plus, flexible "work-from-anywhere" policies at startups and tech companies are blurring the lines between domestic and overseas work, potentially putting companies at risk when business travel accident coverage is not considered.

While some companies will require coverage at substantially larger premiums than others, BTA insurance can be beneficial for nearly any business and will continue to play a role in the future of business as we see world conditions change.

For more information on business travel accident insurance and to find the best policy for your company, contact the experts at B. F. Saul Insurance today.