International
Business
Insurance

What is International Business Insurance?

International insurance is a type of insurance designed to cover risks associated with doing business outside of the United States. In many respects, it is similar to standard business insurance; the primary distinction is that it will cover losses that occur abroad. It may include a broad array of different types of policies, including property insurance, general liability coverage, automobile insurance, professional liability insurance, workers’ compensation, kidnapping and ransom insurance, medical risk insurance, and marine insurance. The particular types of policies that your business may need will depend on your work and the risks that your company and employees encounter while working outside of the U.S.

Types of coverage in International Business Insurance

General liability insurance – Protects businesses against claims related to property damage, accidents, injuries, and negligence.

International product liability insurance – Covers injuries and damages caused by a defective product.

Workers’ compensation – Covers employees’ work-related injuries, including rehabilitation costs.
Commercial auto insurance

Professional liability (errors and omissions) insurance – Protects businesses from failure to deliver as intended or not at all.

Kidnapping and ransom insurance – A good idea in high-risk areas where kidnappings and ransom requests are common.

Commercial inland marine insurance – Protects goods while being transported via ocean cargo or plane.

Defense base act – Covers overseas civilian workers who are employed under a government contract. 

How much does International Business Insurance cost?

Like any other type of insurance, what a company pays for international business insurance also hinges on essential factors like:

A) The company’s industry

B) Exposures

C) Claims history

D) Requested coverages

E) Number of employees

F) Annual revenue

When it’s time to purchase international business insurance, we can help you select the different policies your business needs based on your dealings abroad. This way, we can help you find the coverage you need at prices you can afford and that adequately cover your overseas exposures.

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