To protect your company and your employees, you most likely have various business coverages while in the states. Many businesses don’t realize that when their employees travel overseas, those policies do not always remain in effect. It is possible that your company needs foreign liability coverage.
What Is Included in Foreign Liability Coverage?
There are a variety of different coverages that you can obtain when it comes to foreign liability. Those coverages include:
- Commercial liability
- General liability
- Workers’ compensation
- Commercial property coverage
- Employers’ liability
Essentially, the policies you require in the U.S. are the same policies you may need overseas. In some instances, you may need stricter policies to cover foreign hazards.
What Businesses Need Foreign Liability Coverage?
If you have a U.S-based company that takes part in foreign business activities, then you probably need to have foreign liability coverage. For example, if you take part in the following:
- Trade shows
- High-risk travel
- International travel
- Foreign vehicle use
- International manufacturing
You may need extra protection in the form of foreign liability.
When it comes to coverage, pay close attention to any exclusions or limitations. Some countries may not be covered under your insurance.
If you work within the global marketplace, you need to consider whether your insurance policies would cover you or your employees overseas.