Benchmark Agency Blog

Insurance that Follows Your Business Around the Globe

In today’s digital world, commerce often crosses oceans, geographical and national borders with a simple click of the mouse. The global economy all businesses must compete in also means more and more companies are engaging in international transactions.

If your business sends employees abroad or across the northern or southern borders, has an international sales office, enrolls in international trade fairs or conferences, imports or exports materials or products, or performs any services in a foreign country, you need insurance that can travel with your business and its employees. Your business does not need a physical presence in other countries in order to conduct commerce there, nor does that protect you from the fallout when things go wrong.

Most basic business insurance policies do not cover risk exposures or losses outside of the U.S. Even your workers compensation insurance most likely will not cover an on-the-job injury a staff member may experience while working in another country. That leaves them obligated to pay all out of pocket expenses and you at risk for a lawsuit.

A lawsuit brought against your company or its employees from a citizen of another country due to international operations is also likely not covered by your U.S. based general liability insurance policy. Protecting your data from foreign attack in countries that take a much softer view on cyber crimes is also vital for international operations. While European trade and emerging markets opens the doors for growth in your business, it also opens you up to additional risks and liabilities.

You need general liability coverage for bodily injury and property damage that can occur on these overseas trips. You may need property coverage for any equipment or company belongings that accompany your executives. You should also consider travel insurance that can help reimburse your costs for canceled or delayed trips due to weather, civil unrest in the destination country or other unforeseen events.

Knowledgeable, independent agents at Benchmark Insurance can help find the perfect business insurance solutions for all your international travel and commerce. We are always available to answer any questions you may have, suggest coverage options best suited for your business, and even assist you in filing a claim. Contact a Benchmark Insurance member agent who can locate you a number of quotes from a variety of providers, ensuring the policies you choose offer the best international insurance coverage at the most competitive rates.

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