In this era of globalization, more and more companies require international coverages in one form or another. Risks can range from a simple trip-travel exposure to multi-line, multi-country exposures.
Any company which sends employees overseas or has an overseas contract needs international insurance, and INTERNEX stands ready to work with their current agent/broker to meet those needs.
INTERNEX provides our producers with access to over 30-years of experience in the ever-changing international insurance market. Through strong correspondent relationships with brokers worldwide, INTERNEX can provide our producers with one-stop servicing on a locally-admitted and non-admitted international basis.
This is a win-win solution:
- The Agency/Producer is able to meet their clients’ needs, thereby retaining the account and solidifying their relationship.
- The Insured is able to maintain the trusted client/producer relationship they have, using that producer as their single-point of contact for their
worldwide insurance requirements.
Each country presents its own set of regulations. Working with our local contacts, INTERNEX can address those needs.
Puerto Rico Coverages for Puerto Rico are often excluded from US policies. Further, being a “US Territory/Possession”, Puerto Rico is also excluded from Foreign Packages. These exclusions leave coverage gaps that need to be filled.
Additionally, laws in Puerto Rico require coverages to be placed with a local carrier by a local broker. Through our long-standing relationship with a local broker, INTERNEX has access to the local PR market.
INTERNEX has placed numerous local coverages in Puerto Rico for a variety of risks. A major US carrier, whose policy excludes Puerto Rico, directs all their producers needing Puerto Rican placements directly to INTERNEX!
Mexico Similar to Puerto Rico, Mexico also requires that local coverages be placed through a local broker, and INTERNEX can do just that!
Further, Mexico has recently instituted strong anti-money laundering statutes that require the filing of a number of documents proving the legitimacy of the Mexican operation. Through our contacts we can assist with such filings.
Dominican Republic In addition to requiring local coverages through local brokers, Dominican Republic law requires an insured to go through a lengthy process to receive a tax exemption on the premiums. With a tax of 16%, it is very much to insureds’ advantage to obtain this exemption. INTERNEX can guide them through this time-consuming and document-intensive process.