Nuts & Bolts: The St. Paul Cos. introduced an enhanced version of Global Companion, an international commercial property and general liability product designed to help protect U.S.-based companies from the risks associated with conducting business overseas. U.S.-based companies with international operations face a variety of exposures including the potential for kidnapping of company executives and piracy of ocean cargo. St. Paul has offered kidnap and ransom coverage for the past 20 years through a unit of Lloyd’s of London and it has been providing coverage for commercial vessels and cargo since 1853. The enhanced Global Companion product provides coverage for kidnap and ransom and incidental ocean cargo. The product also covers property, liability, excess auto, foreign voluntary workers’ compensation and executive assistance. In addition, domestic companies with foreign operations that conduct business over the Internet can access coverage protection for e-commerce risks through products offered by St. Paul’s global technology underwriting unit.
Dollars: Coverage is available with limits of liability up to $25 million. The deductibles, premiums and policy limits vary on a case-by-case basis.
Carrier: St. Paul works through a partner network of insurance carriers in various countries. All markets are admitted.
States Available: All states.
Contact: Bonnie Preston, (770) 263-4620.
Topics Property
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