A. Keith Stibbards of Ace European Ltd writes:
When expanding into new territories, it’s important to have a co-ordinated insurance programme with clearly defined benefits. Control over all insurance requirements can be achieved by placing them from the UK, thus avoiding potential gaps in cover.
The UK is the pre-eminent insurance market in the world, with excellent experience in providing overseas and global cover. Your main priority should be to select an insurer who has, or can, access a network to place and service the programme in all of the countries that you operate in. Some territories will require the issue of a local policy, while others, particularly those within the EU, can be covered under the UK master policy. A single insurance provider should benefit you with competitive premiums (from economies of scale/reduced administration costs) and act as a focal point for risk management of all your business activities.
As regards employer insurance specifically, the broker/insurer will use their local knowledge to ensure that statutory requirements are met. For example, Germany operates a state-provided workers compensation scheme, which is funded through their equivalent of National Insurance contributions. The master public liability policy will usually cover employer’s risks that are outside the scope of this scheme on a contingent basis.
A multinational insurer should be able to update you regarding any changes in local legislation that requires action. They will also be able to guide you regarding issues that are incidental to insurance, such as taxation and any local certification.