Beware of these 3 Unexpected Insurance Consequences of Overseas Operations
Mid-sized companies in the U.S. are going global.
According to a survey conducted by The Hartford in Q2 2017, 80 percent of mid-to-large size companies in the U.S. are engaging in overseas business, ranging from executive travel all the way to manufacturing. Globalization and technology create opportunities to tap into new markets, and companies that don’t take advantage of those opportunities risk losing out to competitors that do.
“Eighty percent of mid-size companies have some type of international exposure, and we expect that these companies will only continue to increase their international activities going forward,” said Alfred Bergbauer, Vice President and Head of Multinational Underwriting, The Hartford.
Despite this growing trend, many U.S. corporations remain uninformed of — and underinsured for — their risks outside the U.S.
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