Global Contractor Sites


It is possible to get business interruption coverage for contract work outside the U.S., but it is not part of a standard policy.


“It’s not just enough to know that they are integral in your supply chain, you have to know more about them then you ever might have had historically.”


Gerald Kissner, Zurich


Short of a separate approach to covering risk, a standard U.S. policy will not cover business interruptions at by an international contractor unless there is an endorsement that provides coverage. ISO has one that addresses this risk. Given the complexity of international insurance laws, it is crucial to know if there are regulatory restrictions that govern whether a global insurer can handle a claim directly or if only locally licensed insurers are permitted to do so. The growing prevalence of this risk is giving underwriters pause. After including large sublimits for contingent time element coverage in property policies without a great deal of consideration in the past, underwriters today are demanding a great deal more information about suppliers and their suppliers, regardless of where they are located.


Copyright © 2012 by A.M. Best Company, Inc. All rights reserved. No part of this report may be reproduced, stored in a retrieval system or transmitted in any form or by any means; electronic, mechanical, photocopying, recording or otherwise.


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