Global Insurance Programs for Multinational Business

Exporter Solutions: A company’s domestic insurance policies may not cover risks related to employees traveling abroad; importing and/or exporting goods; work with third-party manufacturers outside of the U.S.; or even online transactions crossing national boundaries. Zurich’s Exporter Solutions package delivers a solution for domestic companies moving into the global arena. This is a convenient, cost-efficient multiyear policy that lets you take a longer view of your company’s growth.

Envoy: Many companies moving into the global arena opt for a multiline package insurance policy designed for the broadest range of international risks, such as Business Travel Accident, Excess Auto, General Liability, Kidnap and Ransom, Property, Travel Assistance, Voluntary International Employee Compensation (VIEC) and more. Zurich’s Envoy package provides a single Master policy, modeled after your U.S. forms, that offers over 30 coverage solutions so you can expand into the international arena with confidence.

For more complex needs, a Controlled Master Program (CMP) uses a policy for worldwide coverage outside a parent company’s country of domicile, combined with local admitted policies to help provide complete and uniform coverage. To supplement these local policies, the parent company also purchases a U.S. Master policy providing difference in conditions (DIC)/difference in limits (DIL) that sits above local policies, filling any coverage gaps. Where no local policies exist, the U.S. Master policy provides primary coverage. In most scenarios, premiums and losses are paid in the countries where the exposures are located via local policies. While the U.S. Master policy rarely comes into play, it ensures access to the company’s Umbrella policy and is available if coverage or limit shortfalls occur between the local admitted policies.

In addition to coverage, a Zurich CMP provides administrative benefits. The U.S. Master policy and the local policies can be purchased together, eliminating the need to buy each local policy separately and offering more control. Zurich stays abreast of local insurance requirements and assures that the program is compliant. In addition, our international technology platform, IPS, ensures local policies and premium payments are coordinated, which enables centralized claims reporting.

Keeping track of a global program’s local policies, premium payments and servicing can be daunting. As a Zurich International customer, you have access to real-time, global data and on-demand reporting. Zurich also provides a Customer Service Report, a comprehensive summary of performance metrics (e.g., time to invoice, time to receive local payments) and Zurich’s year-over-year performance. This transparency helps risk managers manage and strengthen their International programs.

In addition to risk transfer, your program structure determines how Risk Engineering services, premium payments and claims handling can legally be managed. Zurich’s specialists know how to structure compliant programs and work with you to determine the best approach for each country — so that, should you have a claim, you receive the support you need. Additionally, we are transparent about what services we are legally allowed to provide in-country based on the program structure.

As you chart new territory, you can count on Zurich’s strong record of international innovation, from introducing Financial Interest Coverage (FInC) to our unique Global Program Support (GPS) system, an industry-leading tool for premium tax compliance. Since the launch of our International division in 1975, Zurich has been a market leader because we know how to adapt to changing business needs and can help you prepare for whatever comes next in every corner of your world.