International P&C

International coverage for P&C related risks is largely about ensuring regulatory compliance, assuming the appropriate coverage is included in a master or global insurance program. Just like within the U.S., most countries have their own laws and regulations with respect to operating/establishing a business and the procurement and placement of insurance. While some countries will allow U.S. placed insurance to respond to a claim on a first dollar basis with no implications, there are many countries that will not. To complicate matters, certain coverages in some countries are legally required, with specific levels of coverage that need to be maintained. The penalties for not having the appropriate coverage and limits in place at the time of a loss can range from fines or penalties to jail time. Either way, the risk is typically not worth the reward of saving a few thousand dollars on premium.

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