Cargo Insurance image Doing business internationally presents exciting opportunities for companies of all sizes, but it also brings with its own series of specific risks not usually addressed in standard business insurance policies.

With our long history of working with clients in a wide range of industries coupled with our unrivalled marine experience, the Allen Insurance and Financial Foreign Liability, Cargo and Bond team can offer a range of policies from a global suite of insurance carriers to cover the gamut of exposures your business faces.

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Foreign Liability and Overseas
Property/Casualty Insurance Products

International Insurance covers companies that conduct business outside the U.S. for coverages such as premises and product liability; automobile liability; workers’ compensation and employers’ liability; property (including transit); kidnap and ransom; confiscation and civil war; crime; business interruption; difference in limits and conditions; and endemic disease.

Allen Insurance and Financial has direct and brokered access to a wide range of markets for these coverages, enabling us to ensure the right product fit for individual businesses.

Transportation, Transit, and Ocean Cargo Coverage

Cargo Insurance covers loss or damage of cargo while it is in transit between the points of origin and final destination. Goods may be transported by sea, air, or land. Protecting the value of your goods is the primary benefit of cargo insurance. While you have the option of sending your freight without any buying your own insurance, to do so might mean taking on more risk that you intended to.

Should a loss occur, you do have legal recourse against the carrier of your goods, but this can be a lengthy and complicated process, and international law strictly limits carrier liability (see the attached primer on All Risks vs. Legal Liability). Cargo Insurance is an essential consideration for businesses engaging in international trade.

If you are buying or selling goods overseas, it’s important to have the right insurance program helping to protect your interests. Allen Insurance and Financial has access to a wide variety of insurance carriers that allow us to provide insurance solutions for importers, exporters, manufacturers, commodities traders and freight forwarders regardless of the mode of transport you use to import, export, and move your products.

 Customs, Surety and other Bonds

If you are importing merchandise into the U.S. for commercial purposes that are valued over $2,500, or a commodity subject to other federal agencies requirements (i.e. firearms or food), you must post a Customs bond to ensure that all duties, taxes and fees owed to the federal government will be paid.

If you are a domestic carrier that merely wants to transport imported cargo “IN BOND” from one state to another, or if you If you want to perform some activity in a secure CBP area, i.e. cartage, or serve as a Customs Broker or as an approved gauger or laboratory you will also have to obtain a Customs bond. Additionally, there are other circumstances where Customs or other bonds are required: at Allen Insurance and Financial we can guide you through the process and help you obtain the bond you need.

 

Travel Medical & Trip Insurance

TravelIns_72dpiWhen planning a trip, be it business or pleasure, people don’t expect for their plans to be disrupted due to an accident or illness. It’s important to plan ahead and assess how you can protect the investment in your trip and your health, especially if you are travelling overseas.

At Allen Insurance and Financial, we offer several coverage options to protect your non-refundable deposit on a trip, as well as coverage for medical expenses incurred overseas, which are not typically covered by traditional health insurance.

Coverage can be purchased with a focus on:

  • Trip insurance covers the non-refundable cost of your trip.
  • Travel medical insurance covers the medical expenses you may incur when travelling outside the U.S., especially in an emergency scenario.

Some plans have both travel medical and trip insurance packaged together, but typically they are more focused on one area or the other.

Why Buy Trip Insurance?
  • Protect Your Investment. Should you develop a sudden illness, preventing you from travelling, this plan will help protect you from losing the money you’ve financed for your trip.
  • Protect Your Belongings. If your wardrobe is lost, stolen, or damaged, this coverage helps replace what’s been lost by reimbursing you if your bags are delayed more than 24 hours.
Why Buy Travel Medical Insurance?
  • Protect Your Health. If you become sick while traveling, your health plan may not cover you outside of your service area. These plans help you get the care you need and include medical evacuation, should you require care elsewhere.

Who We Work With

HTH is based in Radnor, Pa. and was founded in 1997. They serve more than 1 million travelers and expats each year. Their products are sold through licensed insurance brokers, like Allen Insurance and Financial. HTH’s plans are A-rated and underwritten by licensed insurers in the U.S. Click to get a quote.

Seven Corners is based in Carmel, Ind. and they have an A+ rating with the Better Business Bureau. The company was founded in 1994 and exclusively sells travel insurance plans, all of which are A-rated.  Their plans are underwritten by Lloyd’s of London and Tramont Insurance Company. Click to get a quote.

 

For a personalized quote*, please contact Anna Moorman at 207-230-5835 or AMoorman@allenif.com or you can use our online form to …

 

*Factors, including age, trip cost, and length of trip will dictate plan cost.

 

Updated: 8/8/16