July 7, 2021
Technology has made it easier than ever for businesses to conduct business anywhere in the world. Although it’s exciting to be able to work with others across the globe, doing so can make your business vulnerable. If you are conducting business outside of the United States, it may be a good idea to invest in international insurance. Take a look at these four reasons why your business needs international insurance.
1. To Protect Against Kidnapping
It’s no secret that there are parts of the world where the likelihood of being kidnapped is higher than in other places. If you or your employees conduct business in these countries, having international insurance may be beneficial:
- Mexico
- Venezuela
- Nigeria
- Russia
- Afghanistan
- Iraq
An international insurance policy will cover the losses associated with kidnapping and pay for other costs, like medical treatment and legal liability related to the kidnapping.
2. Protect Precious Cargo
For businesses that send cargo overseas via ships, international insurance can help protect your cargo. Anything can happen at sea, and you want to know that your precious cargo is protected. With an international insurance policy, your insurance provider will cover losses to the merchandise or goods, the crew, employees, and others while on a ship and while being transported to the ship over land or via plane.
3. To Protect Employees
International Insurance can include a foreign voluntary insurance policy. This type of policy is a type of workers’ compensation that provides more comprehensive coverage to employees who are injured or get sick while abroad. Since most domestic compensation policies don’t provide enough coverage to cover the full cost of losses if an employee becomes sick or injured, an international insurance policy will be worth the investment.
4. For Global Executive Support Services
For businesses that like to be proactive, they can invest in an international insurance policy for their global executive support services. Global executive support services assist employees in preparing for travel and help with any issues that may arise during their travel abroad.
Comprehensive International Insurance Your Business Needs
When you want comprehensive international insurance policies that you can trust to protect your business, look no further than American Heritage Insurance. We’ve been an independent insurance broker in Carroll County for over 35 years. Contact one of our MD insurance agents today to learn more.
