The Company: A U.S.-based manufacturer of logistics software with locations in China, Netherlands, India, Belgium, Australia, and the United Kingdom.
The Challenge: The company made several acquisitions post-close of companies located in several countries. The placements in each country were individual and uncoordinated with different expiration dates.
The Equity Risk Global Partners Solution: The coverage was brought under a Controlled Master Program and all policies in every country were renewed with the same expiration date. This required coordination and control of dozens of policies, with special attention paid to the jurisdictional requirements associated with materially altering policy renewal terms. An International Errors & Omissions policy was also put into place that allowed the company to negotiate coverage terms at the home office, and legally issue certificates of insurance anywhere in the world. Prior to this change, there were nine Errors & Omissions policies with varying limits and coverage terms procured around the world. |
