Published: January 10, 2018

Is your business local only to the US or do you have business outside the walls of our borders?

earth   Did you know that 79% of US businesses go outside of our borders to sell products and provide services? 76% of those expect an increase in international operations.   This just goes to show that many businesses are reaching farther than beyond their US headquarters, which just opens more possibilities.  

  • 86% of these companies have employees that travel abroad for business.
  • 50% have staff permanently assigned outside of the US
  • 90% sell products outside of the US (including internet sales)
  • 70% own a physical premise where business can be done outside the US
  • 69% have equipment located in third party facilities outside the US

  Even if a business doesn’t do business outside of the US yet, they might in the future. 94% of companies plan to expand outside the US in the next 2 years. 69% without a physical operations outside the US plan to develop them in the next 2 years.   So where are businesses going:

  • 85% Canada or Mexico
  • 26% Central America/ Caribbean
  • 29% South America
  • 60% Europe
  • 19% Central Asia
  • 30% Southeast Asia
  • 16% Australia
  • 5% Africa

68% of all business owners worried that they do not have adequate insurance for their international operations Their key insurance concerns were:

  • Cybersecurity
  • Product liability
  • Employee security and safety
  • Terrorism
  • Data breaches
  • Complying with international rules
  • Product loss/damage
  • Political instability

  59% of business owners have contacted their agent about multinational coverage guidance.   Call our office today to learn about the Hartford Global Solutions coverages.   Keeping you protected,   Rick   All Access Insurance in Littleton, CO,  who represents multiple insurance companies as a “Broker” and provides products for auto, home,  commercial,  workers compensation, and much more!   Call us today for a free quote at (303) 932-1700