Business Travel Accident

Eligibility and Coverage

The Business Travel Accident (BTA) insurance provides for financial benefit in the event of an employee’s death resulting from an accident during employer-sponsored overnight business travel. This policy is underwritten by the Chubb Group of Insurance Companies.

All Employment Classifications are eligible for coverage under the Business Travel Accident Policy if enrolled in the IARC Insurance Plan prior to the trip.

Please note that coverage is only available while an employee is on a preapproved business trip, away from his or her place of employment, with an overnight stay. Coverage begins at the start of the trip, whether it be from an insured’s place of employment, his or her home or other location, and coverage terminates upon the insured’s return to his or her home or place of employment, whichever shall first occur.

Depending on your designated Employment Classification, the benefit provides life coverage in the amount of 3 times salary up to a maximum payout of $1.2 million per full- or part-time employee or a payout of $50,000 or $100,000 for short-term employees and consultants. However, in the case of multiple deaths in one incident, the maximum payout is limited to $15 million in total for the entire incident. If the sum of all the life benefits in an incident exceeds the maximum payout limit of $15 million, each insured’s payout will be determined proportionally based on the sum of all the individual coverage amounts. The policy covers war and terrorism risks as long as the insured is not an active participant. 

Frequently Asked Questions About BTA

Is this benefit the same as the life insurance benefit?

The business travel accident insurance is an additional life insurance policy that provides for financial benefit in the event of an employee’s death resulting from an accident during employer-sponsored overnight business travel. The beneficiaries listed for the Life benefit will also serve as the beneficiaries for the Business Travel Accident policy.

What is considered business travel?

Business travel is defined as a bona fide trip made on behalf of a Center, which is approved prior to the trip and requires an overnight stay.

When does the business travel coverage begin and end?

The business travel coverage begins at the start of the trip, whether it be from an insured’s place of employment, his or her home or other location and terminates upon the insured’s return to his or her home or place of employment. Please note that the employee must be enrolled in the IARC insurance Plan prior to the trip.