ACE Group today announced the release of a new advisory entitled, “International Employers’ Liability Trends Affecting the Manufacturing Sector,” which examines the rising cost and major expense of employers’ liability insurance for U.S.-based manufacturing companies operating outside of the United States. The advisory discusses issues surrounding the management of employers’ liability expenses, and the importance of adhering to local regulatory requirements through a focused approach of proper loss controls and the implementation of a well-structured global insurance program.
“With our Foreign Casualty practice’s vast scope of products, services and expertise, we are committed to providing practical information on a wide range of relevant issues to U.S.-based multinational businesses that have operations or employees who travel outside the U.S.,” said Bryan Tedford, Senior Vice President, ACE Foreign Casualty. “This advisory reports on employers’ liability insurance, which ranks as one of the biggest expenses for multinational manufacturing companies. Our goal is to assist these entities in managing potential exposures through helping them design and manage a comprehensive global insurance program.”
The new ACE Advisory was co-authored by Joerg Reinholdt, Senior Vice President, National Field Operations, ACE Foreign Casualty and Steven Schwartz, Vice President, ACE Foreign Casualty. The advisory is part of a larger series of papers that ACE produces that are designed to provide useful information on current industry topics faced by risk managers.
The advisory highlights several recent international legal and risk management developments in the United Kingdom, Europe and China that could have an impact on employers’ liability costs for manufacturers. According to Mr. Reinholdt, “Whether a manufacturer operates inside or outside the United States, it must always comply with the laws and regulatory requirements of the jurisdictions where it conducts its’ operations. When those laws and regulations change or when new trends emerge, it can often have an impact on insurance costs as well as other operating expenses.”