What to Know Before You Go Global
Director of International Practice
Expanding your organization internationally introduces exciting growth opportunities—but also introduces new risks. Here is essential guidance to help mitigate exposures and navigate the complexities of cross-border operations.
Regulatory Compliance and Local Market Expansion
Local Regulations: Different countries have unique insurance and compliance standards. M3 helps organizations partner with local brokers or consultants to ensure policies meet mandatory regulations and cover industry-specific liabilities.
Foreign Workers’ Compensation: Coverage for employees working outside their home country. It ensures that workers injured or ill due to job-related activities abroad receive medical care, wage replacement, and other necessary benefits.
- Travel Accident – provides emergency medical coverage, evacuation, and financial protection for accidental injuries or death.
- Kidnap and Ransom – helps mitigate threats in high-risk regions by covering ransom reimbursement, crisis response services, and legal liabilities.
Comprehensive Coverage
- Property Coverage: Understand specific regional exposures, like natural disasters or political instability, and secure coverage that mitigates these risks across diverse environments.
- Transportation and Logistics: Protect goods in transit with marine and cargo insurance, accounting for risks like theft, weather events, and other transport-related hazards that arise during international shipping.
Product & Cyber Liability Protection
- Product Liability: Liability laws vary widely by country. Ensure coverage accounts for international variations to safeguard against unexpected claims and product-specific exposures.
- Cybersecurity and Data Privacy: With cross-border data management, there is an enhanced cyber risk. Obtain cyber liability insurance that covers compliance with local data protection laws, like General Data Protection Regulation (GDPR), and provides coverage for cyber threats across regions.
Political and Economic Risks
For investments in regions with political or economic volatility, political risk insurance protects against losses from expropriation, civil unrest, or government actions that might impact operations.
Key Takeaways
Global expansion presents new opportunities for growth, but it requires careful risk management to protect assets and operations. By securing targeted P&C coverage and leveraging local expertise, businesses can navigate the complex regulatory landscape, safeguard their workforce, and mitigate liability risks. Contact Nate Troyer or your M3 Client Executive to learn more about our international practice.
