October 20, 2019



For insureds which do not have foreign subsidiaries, property exposures are usually limited to:

  • Property in transit other than air or sea cargo
  • Property at unscheduled locations not covered by cargo insurance
  • Property at exhibitions
  • Sales samples accompanying an employee

These exposures can usually be addressed by an international package.

For insureds with foreign subsidiaries, it is usually advisable to go beyond the international package to purchase local insurance through the package carrier or separately.  Local insurance for property usually:

  • Is a compliance vehicle for paying local premium taxes
  • Engages local government programs for natural catastrophe and/or terrorism
  • Pays the amount of loss without the threat of the proceeds being taxable income

The International Package or Controlled Master Program in the U.S. may cover some perils, valuations or dependence risks that are not covered by local policies.


Employee theft coverage of U.S. standard policies extends to employees temporarily outside the U.S. for not more than 90 days.  The standard U.S. coverage does not respond to losses from employees of subsidiaries in other countries.  Crime coverage in an international package may respond to loss caused by employees of an insured’s foreign subsidiaries.  

Contact us today for more information about Property and Crime Insurance or fill out our online quote form