If you buy or sell products outside of the United States and Canada, or travel there on business, you have a need for international insurance because in most cases standard U.S. policies will not extend to cover those exposures, which can include:

General Liability –

• Accidental third party injury or damage to property in a hotel or when visiting supplier or customer locations overseas
• Bodily injury or property damage caused by products you distribute that are manufactured overseas
• Bodily injury or property damage caused by your products that are sold overseas
• Bodily injury or property damage arising out of work performed overseas
• Liability assumed under contract overseas

Automobile Liability –

• Bodily injury or property damage resulting from an accident involving a vehicle rented or borrowed by you or your employees
• Physical damage to a rented or borrowed vehicle

Employer’s Liability –

• While your Workers Compensation policy may extend coverage to employees while temporarily outside of the U.S. on business, most of the rest of the world still recognizes employer’s liability where an injured employee can sue the employer rather than accept preset WC benefits

Travel Accident/Accidental Death or Dismemberment –

• Provides extra coverage to your employees and their families for claims arising while traveling on business – alternately, 24 hour coverage is also available

Many international policy forms provide a number of coverage extensions such as medical assistance, repatriation, local payment of bills from hospitals and medical providers who do not accept or recognize U.S. group medical insurance, evacuation expenses, family expenses (including travel), etc.

In most cases, the cost for international coverage is very reasonable and is typically rated based on the number of trips per year multiplied by the number of employees traveling. This value is then multiplied by the average aggregate number of days traveled. Appleby & Wyman has several especially competitive international insurance markets available.

Depending on where you and your employees travel, you might also consider KRE (Kidnap/Ransom/Extortion) coverage.

International Property Insurance –
If you maintain locations outside of the U.S. and Canada, your standard property insurance policy won’t provide coverage for any of the various property-related coverages that you probably carry here, including:

• Contents
• Inventory
• Work-in-process
• Business Income and Extra Expense
• Equipment Breakdown

And if, like so many other domestic companies, you have manufacturing performed for your firm overseas, you likely have a contingent business interruption exposure. Your business income coverage here will not extend to cover income lost as a result of a physical loss overseas.

Many countries throughout the world have different and sometimes onerous insurance regulations, so you will need to consult with an agent that has years of experience in arranging overseas coverage that fits your needs and complies with local regulations. For example, in some jurisdictions the failure to comply with local insurance laws can result in incarceration. Arranging appropriate coverage in the correct way can keep the insurance proceeds from being considered as taxable to the local entity.

Appleby & Wyman has the experience you need and represents several international insurers. We can arrange for any required local admitted insurance, and then arrange a global policy that brings all of the local policy coverages up to one standard level so there is never a question as to what is or is not insured under any foreign jurisdiction.