20 Apr 2021

Business Travel in the COVID-19 Era

It’s anticipated that as we move forward in 2021, many employees will start traveling again for business. A review of Business Travel Accident insurance makes sense for employers to undertake before travel begins again. If you’re looking for an article to find out what kind of business travel insurance you need, you can find that here.

Business travel is back

In a recent Forbes article they mentioned, “When business travel does return, it’s likely that its form will change, with people expected to perhaps combine meetings so that they get more out of each trip. This is especially likely if, as expected, costs rise as the airline industry struggles to regain some semblance of financial stability. Indeed, the airline industry group IATA estimated that fares could go up by 54%.”

It’s important to look at your travel insurance before diving back into the world of travel in 2021.

business travel in the COVID-19 era

Business Travel Accident Insurance

Many employers purchase Business Travel Accident (BTA) policies that provide global coverage to their employees.  Diversified Insurance Group offers a multitude of options and can help customize a plan for you. Get more information on that here. These policies are purchased to provide 24-hour non-occupational injury protection for employees who are exposed to additional risk by traveling on behalf of the company. BTA insurance provides benefits that supplement the current employer-sponsored benefits program. The benefits included under the travel accident insurance plan are payable in addition to any other group or individual plan. Eligibility is usually extended to include all employees or specifically designated classes of employees. Coverage may also be extended to Non-Employee Directors, Consultants, and Guests of the Policyholder.

BTA policies have evolved due to our changing world.  After 9/11, additional coverages were added to meet the needs of employers such as On-Premises Terrorism, On-Premises Felonious Assault, War Risk, and Travel Assistance Services including Political and Security Evacuation. 

COVID and BTA insurance

If an employee has traveled for business outside their country of residence and becomes infected with COVID-19, an Out-of-Country Medical provision would cover these emergency healthcare expenses until they return home. If an evacuation is deemed medically necessary, the cost would be covered under the BTA policy. If there is an unfortunate loss of life, the cost of repatriation of mortal remains may be covered if the provision is included in the policy. 

Do Your Research

It’s important to do your research before leaving on any business travel. In the current global climate, rules and regulations for COVID are rapidly changing. This means that different locations have different rules and mandates in place. The Center for Disease Control is constantly updating their travel notices and updates on their website. You can find the most up-to-date information here. Your ease of travel will be much better if you know what to expect before you go.

Lastly, a review of the current BTA policies is critical to make sure they include important provisions like the Out-of-Country medical language.  These policies can be structured to provide broad comprehensive coverage for employees including coverage for pandemics like COVID-19 as well as other events.

It’s important to review Business Travel Accident policies at least once a year to make sure coverage is included for pandemics like COVID-19.