International Insurance

International Insurance Newsletter | May 2019 Edition

International Insurance Newsletter | May 2019 Edition

International Insurance Newsletter | May 2019 Edition Events, developments, and opportunities in the international marketplace. We occupy a unique position in the international risk management and employee benefits marketplace, and have the ability and resources to help you globally. We provide our clients exclusive access to a dedicated, in-sourced international department, effectively on their payroll and fully integrated within their operations, acting as an extension of their team. Our network provides access to more experience, technical resources, and innovative industry expertise. We are able to provide direct local involvement worldwide and strengthen insurer relations, providing regional knowledge and expertise as well as regulatory compliance. Please contact us at 1-800-661-1518 if you have any questions or concerns regarding international insurance. Recent Successes: Placed in-country Property insurance for a global company engaged in the growth, testing, analysis and refining of high-grade medical cannabis. Coordinated…read more →

International Insurance Newsletter | April 2019 Edition

International Insurance Newsletter | April 2019 Edition

International Insurance Newsletter | April 2019 Edition Recent Successes: Placed local Property as well as Primary and Excess Liability policies for an Aruba based firm providing engineering services and solutions to the energy industry. Bound General Liability coverage for a roofing contractor undertaking a project in St Croix, USVI for a hotel resort damaged by Hurricane Maria. Arranged the issuance of local Commercial Package, D&O and Umbrella policies as part of controlled master programs for an advertising and design firm opening in Canada. Global Political Risk A global view of the Political Risk issues facing multinational organizations and investors suggests that businesses have never before faced such a breadth of challenges. From emerging economies to mature ones, business and trade are increasingly susceptible to uncertainty, with political risks posing a threat to their business interests. Contracts for the supply of goods…read more →

International Insurance Newsletter | March 2019 Edition

International Insurance Newsletter | March 2019 Edition

International Insurance Newsletter | March 2019 Edition Recent Successes: Placed Yacht & Pleasure Craft insurance including hull & equipment coverage as well as a high limit of liability for a yacht and jet ski being operated in the Bahamas. Arranged local issuance of an admitted Property policy as part of a controlled master program for a foreign owned joint venture company with multiple locations across Mexico Placed homeowners coverage for a luxury condominium in Costa Rica. Malaysia Malaysia has given foreign-owned insurance companies until April to outline plans to comply with local shareholding requirements. Bank Negara Malaysia, which regulates insurers, is pushing to enforce a 2009 rule that sets a 70% cap on foreign ownership of local insurance businesses. The bank is expecting insurers to come up with “concrete plans” via divestments, listings or corporate social responsibility contributions. Cutting back shareholding…read more →

International Insurance Newsletter | February 2019 Edition

International Insurance Newsletter | February 2019 Edition

International Insurance Newsletter | February 2019 Edition Recent Successes: Coordinated and completed the fronting and reinsurance process into Lloyd’s for phase I of a multi- year construction project in Mexico. Bound Package policy for Property and General Liability risks in Puerto Rico for a provider of consultation services for invisible dental braces and aligners. Bound an International Liability Program along with a separate K&R policy for a company providing technical oversight as part of a plant maintenance project at a power plant in Mexico. Mexico A growing number of Mexican truckers are armoring up their big rigs in order to keep their cargo safe from hijackers. As cargo thefts in Mexico have doubled from their 2015 rate to more 30 per day, truckers and shippers are desperate to try to deter cartels and gangs. Even more worrisome than the uptick in…read more →

International Insurance Newsletter | January 2019 Edition

International Insurance Newsletter | January 2019 Edition

International Insurance Newsletter | January 2019 Edition Recent Successes: Placed a Combined General and Employers’ Liability policy as part of a controlled program for a construction project management company establishing an office in the UK. Placed US Workers’ Compensation and quoted an extensive set of Liability coverages for the exposures of a foreign owned networking club for business women opening up in the USA. Bound international Premises and Pollution Liability policies for a leading manufacturer of Specialty Chemicals. Global Cross-border supply chains are shifting as manufacturers turn away from Chinese suppliers with the ongoing US-China trade war. The sourcing of new suppliers is creating stiff competition as firms seek to find new production facilities in neighboring Asian countries. This is driven by the risk of greater US tariffs on China and fears that territories such as Vietnam and Thailand can only…read more →

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