Insurance is a critical tool for managing risk—when it works.Let the insurance buyer beware, however, that it doesn't alwayswork equally well everywhere. Coverage problems regularly surprisemultinational companies that require property insurance in remotelocales around the world. Cynics have compared global propertyinsurance to cell phone service: Depending on where you are, yourexperience may vary. By a lot.

Worse, bad choices in global insurance coverage may remainhidden until a remote location suffers a fire, flood, hurricane,earthquake, cyberattack, or other catastrophe. Only in such acrisis scenario does the company discover how many strings areattached to the insurer's promise to pay. The insured business mayunexpectedly face not only coverage gaps, but also unanticipatedtaxes, regulatory scrutiny, delays in claims payments—and,ultimately, extended business interruptions.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.