In general, a standard commercial insurance policy will protect you here in America. Not so for corporations, schools and religious or other volunteer groups that travel abroad to promote their interests or to show goodwill, education, and so on.
Without vital international coverage, widespread threats of exposure to risks, as shown by the following statements.
1. Commercial liability insurance (third party property damage)
Susan was appointed by her company to represent them in a foreign country. The hotel she booked in looked pretty good — until the problem presented itself. After washing, she neglected to turn off the sink. While she was out, doing business, constantly running water poured on the bathroom floor and looked at the ceilings below, which led to great damage from flooding. A good thing for international commercial insurance, which compensated for the creation of a hotel for damages.
2. Product Liability Insurance (Coverage Jurisdiction)
The American plant, which manufactures burners for foreign companies, is engaged in a foreign distribution company, which, in turn, sold the package to an outside client who used them in his industrial furnace. One burner did not work properly and caused significant damage to the furnace. This prompted a third-party client to file a claim to the distributor, as well as the American manufacturer. The advantage of the American company was that they recently acquired an international policy that covered product responsibility.
3. Insurance of unforeseen auto insurance (difference in political restrictions)
An American medical company has supplied one of its sellers to a foreign company. The man used a rented car that came with a local auto-guide policy with 750,000 local currency limits, which is equivalent to US $ 40,000. The tragedy got stuck when the seller crashed into another car, and another motorist died. The corresponding claim exceeded the limits. Fortunately, international commercial policy provided for automatic liability with a limit of 1,000,000 US dollars for each accident.
4. Executive travel assistance
The American organization sent its volunteers to a remote third world village. Things did not go as planned when the volunteer came down with a terrible malaria disease transmitted from mosquitoes. Since there was no adequate medical care in the area, the patient had to be taken to a big city — a trip that led to a reasonable price of $ 50,000. Fortunately, the overseas insurance policy that the organization carried out covered the costs.
5. Voluntary compensation abroad (employment allowance)
The American corporation attracted some of its employees to operate a factory located in a remote area of the third world. When one employee was performing the functions, he fell off the forklift and broke his knee. Now the man could not work for more than a month because of his disability. International insurance covered the tribulation with its external voluntary compensation coverage, which increased the comparable rental clause, otherwise known as the country of origin.
6. Accidental death and dismemberment (non-occupational injury)
While promoting the interest of his American company in a foreign district, the employee spends his free time in the capital. Listening to the explanations of the artifacts in the building of the guide, the worker went down the stairs and broke his elbow. International insurance covered the associated benefits, including non-occupational health care costs.
7. Insurance in the event of abduction and extortion (kidnapping)
The president of the American corporation flew to a neighboring country to observe one of his factories. He was abducted after entering the car, which he considered a taxi. The kidnappers demanded a ransom of $ 500,000 — something that international policy covered in accordance with its abduction and extortion clause.
8. Property insurance
The US mission went to a third world country to train local people in modern agriculture. The group was devastated to discover that the remaining agricultural equipment was gone — stolen by the thieves! Losses were covered by international insurance.
To find out how your institution can benefit from international policy, contact a competent independent agency.
