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WorldRisk® Foreign Commercial Package

Coverage 

Foreign Commercial General Liability

General liability insurance for premises and products outside of the U.S., including foreign occurrences resulting in U.S. suits.

  • Excess limits up to $10 million available
  • CrisisResponse® coverage offers $250,000 of additional policy limits for immediate crisis management expenses and another $50,000 to retain the services of a public relations firm to quickly restore public confidence when a man-made crisis strikes anywhere in the world

Foreign Voluntary Compensation

Foreign voluntary compensation and employer’s liability insurance for all classifications of employees, including 24-hour coverage on a primary, first
response basis.

  • 24/7 access to medical, travel, and security assistance services of AIG Travel
  • Emergency security and political evacuation coverage benefits can be paid “on behalf of” the insured’s employee, rather than by reimbursement only
  • No aggregate limit for supplement repatriation (available limit = $1 million per occurrence)
  • Employees, directors, officers, and guests evacuated due to a crisis event have the option to return to their host country or place of assignment within 14 days if return is safe and permitted

Travel Accident and Sickness

24-hour injury benefits for employees and their spouses and children on a
primary basis while traveling overseas on a business trip, including 14 days of
non-business related personal travel.

  • Pays on behalf of insureds for out of country medical costs
  • 24/7 access to medical, travel, and security assistance services of AIG Travel

Foreign Automobile Liability

Automobile liability insurance for owned, hired, or non-owned vehicles outside of the U.S. that is difference-in-conditions/difference-in-limits over any compulsory local coverage.

 

Commercial Property

Commercial property insurance up to $50 million TIV (total insurable value) for real and business personal property, business interruption and extra expense, and property at exhibition or in-transit.

 

Kidnap and Ransom

Coverage for kidnap or ransom, extortion, wrongful detention, or hijacking while traveling abroad.

Low limits option for just $100 features:

  • No country exclusion
  • $250,000 each coverage component/$1,250,000 each insured event

Marine Ocean Cargo

Marine ocean cargo insurance with optional war risk coverage.

 

Political Risk

Coverage for confiscation, expropriation, or nationalization of insureds’ assets by a foreign host country government or economic loss due to embargo and license cancellation.

 

Commercial Crime

Coverage for employee theft, forgery, or robbery inside or outside of the premises.

Minimum Premium

$2500 (WorldRisk Fast Track “Trip Travel” Proposal)

Program Options

Program design needs

  • Guaranteed cost
  • Multi-year policy periods
  • Difference-in-conditions/difference-in-limits
  • Controlled master programs
  • Rate commitments for accounts with premium in excess of $100,000

TIV Range

$25M

Targeted Classes, Industries, Geographies

All

Additional Product Eligibility

Lead Umbrella Occurrence

Excess Umbrella

WorldRisk Excess

WorldRisk A&H

Property Terrorism Surcharge

WorldRisk Crisis Management Premises & Operations – Occ.

Products – Occ.

WorldRisk General Liability Commercial Auto Liability

Commercial Auto PD

WorldRisk Auto

WorldRisk Product Liability

EL

WC/EL – All other

WorldRisk WC

Multinational

Whether managing established foreign operations or just testing the waters, multinational organizations are vulnerable to a wide variety of risks typically not insured under a domestic insurance program.

 

WorldRisk policies are designed to address the specific needs of organizations as they grow from no foreign footprint to managing established multinational organizations. For organizations first venturing into multinational status, the WorldRisk Fast  Track “Trip Travel” Proposal provides a no hassle, self-service way to cover their basic liabilities and human capital exposures. As the organization grows, clients can customize their WorldRisk package to address their specific needs by selecting only the coverages they need.

 

Additionally, clients can benefit from CrisisResponse coverage and access to resources to mitigate a crisis event, and 24/7 emergency security and political evacuation services from AIG Travel.




A U.S. Student Crisis in Israel:

During a flare up of violence between Gaza and Israel during the summer of 2014, the insured, which organizes student trips to Israel, was forced to evacuate, transport, and secure alternative lodging for 400 students. AIG reimbursed the insured for transportation of the entire group away from the battle zone to a more secure area, and arranged lodging accommodations for 24 days. No students were harmed and all returned home safely. AIG paid a full limit total of $250K in Crisis Response costs.F

 

Fire in Australian Facility:

A U.S.-based flooring material company suffered a fire at an administrative and distribution facility in Australia. The fire rendered the structure unusable and resulted in total loss of the building contents, including inventory, equipment, and furniture, as well as business interruption loss. The property coverage part of the insured’s WorldRisk policy paid $804K to temporarily relocate the client’s operations and to restore the original building and contents.

 

Volunteer Hospitalized in Guatemala:

An insured’s volunteer fell ill while on a mission in Guatemala. AIG Travel Services obtained immediate medical treatment for the volunteer at a local hospital, facilitated communication in local language with the attending physician to ensure a proper medical history was provided, and arranged local payment for the hospital. The volunteer was able to recuperate with good medical care and knowledge that the medical expenses were covered by the insured’s policy.
 

 

Our global engineering staff can perform onsite loss control surveys to evaluate and consult on property protection, workplace safety, and auto fleet maintenance.

 

Multilingual technical claim specialists, who are located in-region, deploy within hours of notice, ensuring we hand-deliver advances after catastrophic events, arrange for immediate medical treatment, or secure emergency evacuations.

 

Claim payments are made in-country and in local currencies worldwide.* What’s more, multinational clients can customize their claim handling instructions to ensure consistent protocols across their locations.

 

IntelliRisk® Services provides clients with 24/7 web-based access to claims information and claim reporting capabilities, as well as the ability to generate a loss-run when they need it.

 

Multinational Insurance Fundamentals, our free, online training for multinational risk assessment and program design, is accredited in multiple countries.

 

MyAIG Client Portal allows access to local policy prints, invoices, and statuses to help in real time management of international programs.

 

Multinational Program Design Tool makes it easy for clients to systematically evaluate their multinational insurance needs, from compliance to claims handling.

Interested in WorldRisk Insurance?