Middle Market Company

"Business Travel Insurance and International Insurance 

Reduce The Risk of Financial Loss"

A Practical Viewpoint; For Retail Brokers & Their Clients

Cover Agency, Ltd

 A Wholesale Insurance Broker Intermediary

Serving Insurance Brokers On A Multi-State Basis




NEWS ANNOUNCEMENT - SPECIAL Wholesale COMMISSION SALE
Oct 18, 2013

If your company's insurance client is to succeed at doing international business, its management will need to understand the risks involved, and to obtain the assistance of a reputable retail insurance broker, who can do direct insurance business with us, Cover Agency, Ltd.

Cover Agency, Ltd. is a wholesale insurance broker intermediary.

We can place Employee Business Travel Insurance and International Busines Property and Liability Insurance in 170 countries for our correspondent retail insurance brokers' clients. In the event of a claim, the insured Business Employee may have direct contact with the insurance company's local offices or its representative in 170 countries.

Here is a PowerPoint Presentation explaining our most popular package for:

International Employee - Executive Travel Insurance plus International Company, Business Property & Liability Insurance Package


In other words, Cover Agency's correspondent retail broker has expanded his insurance brokerage business services geographically into:

Our staff has an unusual combination of people available on a direct contact basis to assist our retail insurance brokers, including: Wholesale Broker staff who understand the high level of service needed by retail brokers, internal legal counsel knowledgeable about clients' typical international business transactions, bilingual staff speaking Chinese and Spanish.

Today, U.S. domiciled Middle Market Companies (In addition to the giants of industry)  Do International Business, through either the:

1. Internet, for International Sale of Goods to a foreign company,  professional, or consumer in another country; or

2. Use of an international traveling sales force's, direct marketing and sale of goods (Or component parts of goods),  or natural resources; or

3. Use of an international traveling sales team to directly sell or license American Technology (Patents, engineering, etc.) to foreign companies; or

4. Direct sale of business or professional services (Advice for compensation is included.) by an American company or professional firm, to a foreign company (Overseas or just across our border).

Beginning with a middle market company's first international business marketing efforts to make foreign sales of goods or services, to the initial business sale transactions and beyond, there is both a substantial opportunity for additional ,profitable growth, and the realistic possibility of serious unexpected financial expenses. Employees' international activities, or website/email business can result in the loss of goods, or liability losses (Products issues, completed operations, accidents, etc.) unexpectedly impairing the company's capital or worse.

Business management has choices; either: 

a. Self-insure against the financial risk, with a willingness to pay a claim out of the company working capital, or

b. Mistakenly believe that a "domestic insurance policy" will cover the business liability problems that may arise from international business, or

c. Operate in international business with an assumption that nothing will go wrong, with no liability or responsibility to third party claimant(s), or

d. Obtain Business Travel and International Insurance from a high quality, international insurance company, that does business in about 170 countries using local offices and correspondents, and will:

1. Be there when an insured crisis arises, to assist its insurance client just about all over the world,

2. Reimburse an insured client's fire or theft loss,

3. When an international liability claim occurs in a foreign country, Retain local defense counsel, defend, and if necessary, pay an insured liability claim plus the legal defense fees. This type claim can be anything from an auto accident, other personal injury, products liability litigation, completed operations claim etc.

4. Deal with and payoff a kidnap situation, or a threat to destroy company assets.

5. Assist in the medical crisis expense to relocate an employee, even by airlift, if necessary, to obtain what may very well be, life-saving emergency medical treatment.

Management needs to protect the company's capital from financial losses, if it:

1. Has one or more employee(s) who travels outside the U.S.  

2. Exports products outside the U.S., either on a retail basis, or as a manufacturer or wholesale distributor, selling goods in foreign countries.

3. Markets, advertises, or sells products or services using the internet. Product liability lawsuits, and other claims, can occur without a one on one, personal, foreign country sale transaction.

4. Participates in international trade shows and/or exhibitions.

5. Performs services (Or repair work) on location, in one or more foreign countries. 

6. Sells products and/or services using foreign licensees as representatives as part its marketing program.

Business Travel Insurance, packaged with property and casualty International Insurance, often provides adequate financial protection for a middle market company doing international business.

Some of the most common risks are:

1. Products liability claims and legal fees in a foreign country, from one or more injured foreign located plaintiffs, in a foreign court (Not covered by domestic liability policy issued for U.S. liability claims).

2. Completed operations liability claims and legal fees in a foreign country, resulting from many types of claims, including construction work completed in an overseas location (Or across our border).

3. Fire damage to the company's contents, stored at a foreign warehouse, storage facility, or a hotel storage facility, etc. Property insurance would be required.

       4. Medical expenses for an accidental disability due to employee on the job injury.

       5. Serious disease causing bodily injury or disability, contracted by employee, while on the job. 

       6. Foreign national employee's  medical costs, due to on the job injury.

7. Medical complications in a foreign location, requiring evacuation to qualified facilities. In many parts of the world, to save a life,an employee might need to be air lifted out of a particular location in: China, Southeast Asia, Central Asia, Central America, South America, Eastern Europe, Middle East, North Africa, Africa. 

8. Medical costs, not due to on the job injury.

9. Rental car liability and legal defense fees, resulting from a third party plaintiff's lawsuit in a foreign country.

10. Rental car accident damage.

11. Employee protection expenses, resulting from an employee kidnap and hostage for ransom situation.

12. Extortion threat to disclose proprietary company information with a demand for money.

13. Theft of employee business related personal property.

14. Natural disaster requiring employee evacuation to a safe location.

15. Third party property damage liability lawsuit.

16. Damage to premises rented to company or to employee on behalf of company.

We are Cover Agency, Ltd. We assist our retail independent broker correspondents to provide both International Business Travel Insurance, and International Business Liability and Property Insurance, for their clients. We have the know-how to focus upon client insurance protection for companies who market internationally, either using the internet, or sending employees overseas to sell goods, or using foreign licensees to sell goods or services, or shipping goods to foreign countries, or providing overseas business services to foreign companies.

Our Automated, Prompt, "Quote, Bind, Issue" Business Travel & International Insurance system, targets same day to 24 hour insurance quotes and binders, for qualified new business. More complicated qualified, international insurance requests will also receive a fast manual quote.

For Additional Information Contact:

Priscilla Li

Vice President

Cover Agency, Ltd.

Phones:

Direct: (347) 886-9778

Office: (718) 591-2400

Email: priscillali@coveragency.biz

Executive Offices:

179-14 Union Turnpike

Flushing, New York 11366