To help brokers and agents better meet the full insurance needs of domestic companies with foreign exposures, Liberty Mutual's Commercial Insurance strategic business unit has expanded its foreign package policy offering by introducing a new product, and by adding a new global crisis management endorsement.The new Global Concierge PlusTM product provides up to $25 million in foreign property coverage for the foreign operations of mid-sized U.S. companies. The new product is in addition to Liberty Mutual's two other foreign insurance offerings, which are Global ConciergeTM and Controlled Master Programs.
The Global Concierge product provides incidental foreign coverages for domestic companies without physical operations abroad. Controlled Master Programs offer larger U.S. companies custom comprehensive property or casualty solutions tailored to their overseas operations.
In addition to the new Global Concierge PlusTM product, Liberty Mutual's Commercial Insurance unit now provides a global crisis management endorsement on both Global Concierge Plus and Controlled Master Program policies.
This coverage enhancement endorsement gives policyholders up to 72 hours to identify an insured crisis event, file a claim, and receive up to $50,000 in crisis management support from Weber Shandwick, an internationally recognized public relations firm with offices in 81 countries and a long history of helping companies throughout the world navigate crises. Those policyholders wanting more crisis management protection can purchase additional limits up to $350,000.
"Each of our foreign insurance solutions offers effective coverage, the ability to place locally admitted policies in more than 150 countries, and on-the-ground claims and risk control teams," notes David. T. Perez, executive vice president, National Insurance. "The new product and coverage enhancement makes it easier for agents and brokers to meet the full range of their clients' insurance needs - both domestic and international - through a single carrier."
More information on Liberty Mutual Commercial Insurance's full foreign package policy offerings and global crisis management endorsement can be seen at www.libertymutualgroup.com/multinational.
About Liberty Mutual
"Helping people live safer, more secure lives" since 1912, Boston-based Liberty Mutual Insurance is a diversified global insurer and the third largest property and casualty insurer in the U.S. based on 2012 direct premiums written as reported by the National Association of Insurance Commissioners.
?Liberty Mutual Insurance also ranks 81st on the Fortune 100 list of largest corporations in the U.S. based on 2012 revenue. As of December 31, 2012, Liberty Mutual Insurance had $120.1 billion in consolidated assets, $101.5 billion in consolidated liabilities, and $36.9 billion in annual consolidated revenue.
?Liberty Mutual Insurance offers a wide range of insurance products and services, including personal automobile, homeowners, workers compensation, property, commercial automobile, general liability, global specialty, group disability, group life, reinsurance, surety, individual life and annuity products. Liberty Mutual Insurance (www.libertymutualinsurance.com) employs more than 50,000 people in approximately 900 offices throughout the world.