what is world insurance 
world insurance is a type of commercial liability policy with extended global coverage world insurance provides coverage in the event the policyholder is sued anywhere in the world in general however commercial liability policies have a geographic limit for coverage multinational firms corporations with a global footprint or domestic companies that have contracts with international partners associates often obtain this type of insurance understanding world insuranceworld insurance requires the policyholder to pay an additional premium in addition to property and workers compensation insurance commercial liability insurance also referred to as general liability insurance is essential to businesses this insurance protects the assets of a business in the event it is sued for alleged bodily injury or property damages the insurer may also cover damages and legal expenses associated with covered claims involving actual or alleged product liability contractual liability personal injury advertising injury and other commercial risks as indicated in the policy it s important for organizations to understand the scope of their insurance needs for their international business operations it s critical to protect corporate assets and most insurance policies placed in the u s provide limited if any coverage for losses occurring abroad there are numerous specialized world insurance policies available to companies for conducting international business that are designed to provide global protection types of world insurancedepending on the extent of the foreign business being conducted there are several types of insurance to consider many of these and other foreign liability coverages can be packaged and purchased together and added to as business needs change this type of coverage is similar to domestic liability coverage but it s for foreign occurrences and includes protection for u s occurrences when a suit is brought outside the u s or canada this type of coverage becomes necessary if manufacturers and distributors that sell products outside of the u s are sued in foreign jurisdictions a u s based policy would only cover lawsuits that are filed in the u s or canada companies buy this to protect against physical damage and liability for hired and non owned vehicles operated overseas coverage is typically needed for limits over and above the minimum or statutory limits that are required to be purchased from the rental company in the foreign country the purpose of this coverage is to extend benefits for u s employees while traveling overseas or when assigned to work outside the u s and canada coverage can include medical assistance programs and repatriation expenses this type of insurance affords protection at unscheduled locations while in transit for laptop computers sales samples and personal property at trade shows overseas a more extensive policy may be required for owned or leased facilities a kind of coverage that protects against losses from dishonest acts perpetrated by employees overseas including forgery theft or robbery 