Companies moving towards international developments know that, in order to meet properly the need of a global and integrated protection system is essential to have a valid insurance protection in both domestic and foreign subsidiaries. Therefore, it becomes necessary to design and to implement International Insurance Programs based on the Company’s criteria about Risk philosophy.
IGB provides the Master Policies , issued on the name of the Parent Company, which oversee the corresponding local policies based on good local standard.The Master Policies integrate the local ones, where appropriate or necessary, with additional cover on Technical profile (Differences in Conditions - DIC), on Limits (Differences in Limits - DIL) and on Erosion of Local Limits (Drop Down) in order to have full control of the coverage of all locations and to optimize the overall performance/premiums ratio.
This approach is necessary to comply with regulations of the “Non-Admitted Countries” (i.e. Countries whose regulations require the issuing of local policies and the on-site payment of premium) and to comply as well with the supervisory and local tax regulations, which is essential for cross-border commercial activities.
EEA countries are "admitted" and the insurance protection can be provided under the Freedom of Services (FoS), i.e. without the need of local policies. IGB has the expertise and the know-how to prepare coordinated International Programs to cover all the risks, both national and foreign. For their placement on the foreign markets and for the consequent servicing, IGB cooperates with a network of skilled Correspondent Brokers. Each of these, having a deep knowledge of the context and the dynamics of his market, uses this indispensable know-how to offer the most suitable advice and coverage to the subsidiaries under the coordination and within the Program set up for the Parent Company.