The arrangement and purchase of compliant insurance programmes to protect operations at both local and central levels remain difficult and complicated. A myriad of different laws and regulations exist worldwide, some of which are clear while others are distinctly opaque. This leads to uncertainty, unpredictability and ambiguity.
Inadvertent breach of these laws or regulations, often only identified upon disclosure of the insurance contract to regulators or during litigation, might render the insurance contract illegal or unenforceable, exposing the buyer to a sudden "uninsured" exposure. This may result in the loss being unpaid and the possibility of fiscal or penal sanctions.
At A&P, we have the knowledge and expertise to help multinational companies manage risk around the world. Besides our geographic reach, we deliver an outstanding service to our customers, with a wide product range, underwriting expertise and claims resolution ability.In addition, we provide the following services:
- Tracking policy issuance and updates;
- Obtaining copies of local policies and certificates;
- Accessing country-specific research;
- Viewing multinational standards;
- Running custom reports; and
- Finding programme contact information.
Why is a multinational programme useful?
- Ability to define and implement the level of risk that should be retained and insured by each overseas subsidiary;
- A global insurer can use its managed network to put consistent insurance coverage in place across the client's global operations;
- The global insurer will work according to common standards and can also provide local services, e.g., claims handling and the provision of certificates;
- Understanding the financial strength of the insurer; and
- Concern about operating compliantly in all territories.