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.

It’s critical to have a clear understanding of your company’s exposures as well as the insurance requirements in each of the countries where those exposures are located. That’s why Zurich’s certified International specialists work closely with a cross-functional team to tailor your global solution across your entire insurance portfolio. With broad multiline coverages and diverse program structures, Zurich will be there for you as your insurance needs and global footprint evolve.

Insurance premium tax and legal requirements vary by country and can change with little warning. Since 2006, Zurich has been recognized for our ability to structure uniform, compliant global insurance programs that help protect your business from potential fines, penalties and reputational damage. In addition, Zurich will administer local insurance premium taxes on behalf of the insured where permitted.  And, when a local regulator requests proof of tax payment, we can provide a detailed out-of-territory tax report showing when and where premium taxes were remitted.

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.

Supporting all lines of business, Zurich’s International Servicing team members are dedicated to global programs and making the process as efficient and transparent as possible. The team works closely with customers and brokers to ensure a smooth transition when moving a program to Zurich, and proactively engages brokers at every stage of the placement process.

In the event of a loss, you’ll have a single point of contact in managing the Zurich Claims process. In addition, Zurich has industry Claims specialists with technical expertise in local servicing requirements and market conditions, as well as a global network of our International Programs (IPZ) Claims Coordinators to engage if needed.

Zurich Resilience Solutions, our team of over 950 Risk Engineers in 40 countries, includes specialized industry experience, with many team members recruited from their industries. And they are supported by leading-edge risk management tools that provide critical guidance, reporting, benchmarking and other real-time insights.

These Zurich offices are staffed by local insurance experts and native speakers who are responsible for local partner selection and management based on strict criteria (e.g., local knowledge, financial stability, competitive position). This ensures global partners adhere to Zurich’s standards — and you receive the servicing you need.

Zurich’s International Programs System (IPS) is a centralized technology platform used by Zurich offices and direct partners in more than 200 countries and jurisdictions to manage account details and special instructions. With this holistic view of each account, Zurich can create global reports on policy status, premium movement, claims payments and more at the push of a button. Customers and brokers also have 24/7 access to MyZurich for Zurich portfolio details, as well as GPS for comprehensive tax and regulatory information tools (see Customer and Broker Resources below).