Pages

International Commercial Insurance Offers Added Protection

When a corporation operates overseas, there are sometimes hiccups in operations. People make mistakes and problems occur. While the management in a company's branches abroad may have the best of intentions, there may be some of the same problems encountered in domestic locations. Problems like legal battles and employment disagreements can crop up, costing businesses time and money to resolve. Investing in international commercial insurance is one way that companies with offices abroad can minimize the damages.

Commercial Protection

There are often differences in the way business agreements and contracts are handled in other countries. The client may hold a company responsible for things beyond their control, or companies may have a difference in understanding of the scope of the work. There may be a dispute about the length of the contract or work completion required. Legal battles cost money, which is often covered with international insurance through professional liability or errors and omissions policies.

Employment Practices

When there are disgruntled employees, they may sometimes bring actions against their employers. These actions might include discrimination or harassment lawsuits, charges of wrongful termination or wage discrepancies. International commercial insurance with added liability coverage can protect employers from heavy losses.


Commercial Property

From time to time, businesses can suffer from natural or man-made damage to buildings and property. Vandalism, lightning strikes, fires, and burglary may result in losses of product inventory or make inhabiting the space difficult. Not only do commercial property policies protect the company, but loss of business income protection may help the organization. International property insurance policy protection offers compensation when the company must temporarily close its doors due to covered losses.

Employee Dishonesty

When employees are not working towards the same goal as their employers, the company may suffer from insider burglary or theft. This could be a single employee's effort or one orchestrated by a group of workers. International commercial insurance can help covered companies to rebound from these incidents.

Workers' Compensation

When workers are injured on the job, continued medical and income protection can be covered through an international commercial insurance policy. In some cases, the employee may be also be covered by his home state's plan, but most countries require the coverage for employees who are third country nationals.

Cargo Protection

When product-related cargo is lost or disrupted in transit to or from a company overseas, it can be paralyzing for the business. International cargo insurance offers protection against loss of shipped components or the product shipments themselves in the event that the items do not reach their destination.

Author is a freelance writer. For more information on international commercial insurance please visit http://clements.com/


1 comment:

  1. Hi..
    I recently came across your blog and have been reading along. I thought I would leave my first comment. I don't know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.
    Commercial Property Insurance

    ReplyDelete