Many companies and non-profit organizations mistakenly assume their comprehensive domestic insurance coverage can handle worldwide exposures. While they may be correct when facing a lawsuit within U.S. borders, what happens when legal action is initiated from outside the U.S., or losses covered on U.S. soil are excluded by the insurance policies of another country?
The compulsory insurance requirements of foreign countries may not be as encompassing as those required in the U.S.—which creates a clear need for comprehensive insurance coverage to reduce the risks associated with conducting business outside U.S. borders. Who assumes the risk in the event of bodily injury, illness or death of employees traveling or living outside the U.S.? Do domestic coverages extend to providing emergency medical evacuation? These are just a few of the questions companies and non-profit organizations must consider when developing a presence in other countries.
With nearly 5,000 degree-granting U.S. institutions and more than 300,000 students studying abroad each year, it might be time to take a closer look at ACE Educators International Advantage® Edge. ACE understands the risks associated with global travel and has designed an exclusive foreign package policy with comprehensive coverage enhancements tailored to educators. Experienced underwriters, a presence in over 50 countries and in-depth knowledge of local jurisdictions make ACE the ideal partner to provide risk management solutions for your educational clients.
For more information, visit Big “I” Markets and select “International Advantage” from the Commercial Lines product menu.