Why Self-Funded Employers Need a Global Strategy

In past editions of The Beacon, we’ve highlighted why Business Travel Accident coverage should be part of the conversation for employers with traveling employees.

Many employers still think of Business Travel Accident as an accidental death benefit. For self-funded employers, however, it is much more than insurance coverage. It is a risk management tool that helps protect employees and the balance sheet. Today, Business Travel Accident insurance addresses the  challenges that can arise during an overseas medical emergency through out-of-country medical coverage, medical evacuation, and global assistance services.

The Challenge: Rare but Expensive Claims

Travel-related claims don’t happen often, but when they do, costs can escalate quickly. A routine illness or injury can become a major financial event simply because it occurs overseas.

In addition to medical treatment, employers may face expenses related to emergency evacuation, transportation to a higher-quality medical facility, repatriation, or coordinating care across multiple countries. A single medical evacuation can easily cost six figures, particularly when air ambulances or intercontinental transport are involved.

For self-insured employers and captive programs, this creates a new risk that can be difficult to predict and budget for: low frequency, high severity, and significant volatility.

Stop Loss and Business Travel Accident: A Stronger Risk Strategy

Many organizations assume their health plan is already set up to handle serious travel-related claims. While Stop Loss plays a critical role in protecting employers from high-cost medical expenses, self-funded plans may face unexpected costs and services that arise during an international travel emergency.

Business Travel Accident can complement Stop Loss coverage by providing important services such as:

• Emergency medical evacuation
• Repatriation of injured or deceased employees
• Family travel and bedside visitation
• Security and travel assistance services
• International care coordination

Just as importantly, Business Travel Accident programs often provide access to experienced assistance teams that can help manage a crisis in real time, arranging care, transportation, and support when employees need it most.

Ready for the Future

The value of Business Travel Accident isn’t that it replaces Stop Loss. It’s that it complements it. Together, they provide a more complete approach to managing catastrophic medical and travel-related risks.

As organizations continue to expand globally and employees travel more frequently, travel-related exposures deserve the same attention as other high-severity risks. The question isn’t whether these risks exist. It’s whether your organization has a strategy to manage them when they occur.

When business travel turns into a six-figure medical claim, a well-designed Accident insurance program can help protect both your employees and your financial results. For more information, contact Nick Crane, Vice President, Specialty Accident Business Development.

Stop Loss is underwritten by Berkley Life and Health Insurance Company and/or StarNet Insurance Company, both member companies of W. R. Berkley Corporation and rated A+ (Superior) by A.M. Best, and involves the formation of a group captive insurance program that involves other employers and requires other legal entities. Berkley and its affiliates do not provide tax, legal, or regulatory advice concerning EmCap. You should seek appropriate tax, legal, regulatory, or other counsel regarding the EmCap program, including, but not limited to, counsel in the areas of ERISA, multiple employer welfare arrangements (MEWAs), taxation, and captives. EmCap is not available to all employers or in all states. Payment of claims under any insurance policy issued shall only be made in full compliance with all United States economic or trade and sanction laws or regulation, including, but not limited to, sanctions, laws and regulations administered and enforced by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”).

BAH SR 2026-27   © Berkley Accident and Health          9/26