Business growth is always an exciting experience, but with it comes a new set of responsibilities that many business owners don\u2019t account for or may not even know about. A perfect example of this is expansion outside of the United States. Many of the clients we serve have operations in the US, especially in the New Jersey area. What is happening more and more is that they\u2019re starting to get assignments outside of the country.<\/p>\n
That\u2019s where international business insurance comes in. This is especially true if you:<\/p>\n
If any or all of these are the case for your business, international business insurance could be a valuable asset for your company.<\/p>\n
While often this is for coverage in the US, general liability insurance<\/a> extends to Canada as well. This insurance protects the assets a business has and pays for damages a company may incur.<\/p>\n For example: If someone is hurt on your property or someone causes injuries or property damage, the insurance will pay for monetary damages. In addition, this insurance will pay for your legal defense and for any award or settlement if someone sues you. Such damages can include compensatory damages, which is money paid for a loss or injury caused by an unlawful action of another or non-monetary losses.<\/p>\n Such insurance protects your business<\/a> against many other types of claims too, such as slander, libel, misleading advertising, and copyright infringement. Often, insurance carriers offer an overriding policy that will extend coverage internationally for general liability insurance or workers compensation.<\/p>\n Businesses that open an office in another country may obtain local coverage, in addition to the available international policy. A local country contract might even require international insurance.<\/p>\n Professional liability insurance<\/a> is often international. It can protect a small business against a claim that the company’s work didn’t meet the client’s expectations. A company can\u2014and in most cases, are required to\u2014obtain the insurance before entering into a contract.<\/p>\n This coverage can provide protection against both actual negligence and alleged negligence. This would cover a business from actual or alleged omissions and errors made when providing professional services. This could include such things as failing to deliver a service, giving incorrect advice, or an omission.<\/p>\n Professional liability insurance also pays for a legal defense<\/a> for a covered claim, for personal injury in cases of slander and libel, for acts committed as a part of the professional services of a business, and for damages caused by copyright infringement. It can provide coverage for claims for services provided anywhere in the world.<\/p>\nProfessional Liability Insurance<\/h2>\n
International Workers\u2019 Comp<\/h2>\n