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International Business Insurance

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Pena Insurance Agency/ international business insurance

International Business Insurance Provided By Our Agency

In today's increasingly globalized economy, businesses of all sizes often work beyond the borders of the United States. This can leave a company vulnerable if its insurance coverage is not as expansive as its business dealings. International insurance may be a smart choice for your business in these situations.

What is International Business insurance?

A type of insurance called international insurance is intended to cover the risks involved with conducting business outside of the United States. The main difference between it and typical company insurance is that it will cover damages overseas. In addition, a wide range of products, such as property insurance, general liability protection, auto insurance, professional liability protection, workers' compensation, abduction and ransom insurance, medical risk insurance, and marine insurance, may be included. Your work and the hazards your business and employees face while operating outside of the United States will determine the specific types of policies your firm may require.

Types of coverage in International Business insurance?

  • General liability insurance – Protects businesses against claims related to property damage, accidents, injuries, and negligence.
  • Property insurance
  • International product liability insurance – Covers injuries and damages caused by a defective product.
  • Workers’ compensation – Covers employees’ work-related injuries, including rehabilitation costs.
  • Commercial auto insurance
  • Professional liability (errors and omissions) insurance – Protects businesses for failure to deliver as intended or not at all.
  • Kidnapping and ransom insurance – A good idea in high-risk areas where kidnappings and ransom requests are common.
  • Medical risk insurance
  • Commercial inland marine insurance – Protects goods while being transported via ocean cargo or plane.
  • Accidental death and dismemberment insurance
  • Defense base act – Covers overseas civilian workers who are employed under a government contract. 

How much does International Business Insurance cost?

Like any other type of insurance, what a company pays for international business insurance also hinges on essential factors like:
  • Requested coverages
  • Number of employees
  • Annual revenue
  • The company's industry
  • Exposures
  • Claims history

We can assist you in choosing the various policies your company needs based on your firm's interactions abroad when the time comes to buy international business insurance. In addition, we can assist you in finding the protection you require at costs you can afford and sufficiently cover your international exposures in this way.

Already have International Business Insurance? Switching is easy

It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.
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