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Worldwide Coverage

The right insurance for when you're way out of the office

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This story appears in the August 2002 issue of Entrepreneur. Subscribe »

Doing overseas? Don't count on your domestic policyfor coverage. "There are serious gaps in domestic programsthat don't cover a myriad of exposures overseas," saysBill Skapof, senior vice president at AIG WorldSource in New YorkCity. If you're operating abroad, you need to protect yourpeople, property and income.

For example, your domestic general and product liability policymay say it offers worldwide coverage, but in most cases, that'sonly if the suit is brought in the United States (even though theclaim may have occurred elsewhere). "More and more, claims arenot being brought back to the U.S.," says Skapof. Ifyou're at of being sued in another country, you needcoverage that will pick up your defense costs and cover yourliability in that country.

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