IMPORT / EXPORT RISK EXPERTISE

If your company is an exporter or importer – or both – then having the relevant insurance cover in place is essential to the continuing success of your company. We have helped protect countless import / export operations for decades. We analyze your unique circumstances and design a customized risk management and insurance plan for your needs.

Frequently Asked Questions (FAQ’s)

Do Exporters and Importers need insurance?

 Yes, Exporters and Importers have a lot to protect.  They need insurance to protect their stock, vehicles, property, employees, as well as third party liabilities.

What are some notable risks facing Exporters and Importers?

• Shipping: Physical damage or loss of Cargo can be prevalent during air, land, or sea shipments. The shipping practices, origins and destinations of property, as well as shipping agreements between buyer and seller should be reviewed. 
• Property Damage: If warehousing goods, risks can be notable. Flammability would be determined by types of goods and local ignition sources such as electrical wiring, heating, and air conditioning systems.  Proper warehouse housekeeping is necessary.
• Products Liability: Products liability exposure can be increased if importing goods from manufacturer that does not have a domestic (U.S.) policy. An international liability policy may be necessary if doing business overseas.
• Employee Injury: Travel hazards pose a risk if requirements exist to visit international locations. Foreign voluntary Workers Compensation may be needed if this is more than incidental.  Office exposures exist and all workstation should be ergonomically designed.

Which insurance coverages are needed for Exporters and Importers?

Insurance coverages needed for Exporters and Importers include (but not limited to) Ocean Cargo, International Workers Compensation, General Liability, Property, Business Income and Extra Expense, Employee Dishonesty, Inland Marine, Umbrella, Employment Practices Liability, and Auto including Hired and Nonowned Auto.

How much does insurance cost for Exporters and Importers?

Insurance premiums for Exporters and Importers will vary based upon several factors.  Each policy is rated on different exposures which may include payroll, revenue, product type, property value, location, driving record, claims history, among others.

How do I purchase Exporter and Importer business insurance?

Biscayne Risk & Insurance Group can help guide you through the insurance buying process.  Contact us at 561.571.1001, quotes@biscaynerisk.com, or via the contact form below.