Branching out in Europe – what do you need to look for from an insurance perspective?

Posted on Thursday 16th March, 2017 by

As businesses branch out into Europe, we find they often leave insurance to the last minute, or, dare we say it, overlook the subject altogether.

Of course, we understand why this can happen but, at the same time, we have a duty to guide our clients through the often complex world of international risk and insurance.  Through our experiences with international business, we have gained an in depth knowledge of what is needed from a cover perspective and what can happen when it goes wrong. We have prepared the following Top 10 areas to consider, as a business contemplates trading internationally.

The list is by no means exhaustive, but we hope it gives you a feel for the types of exposure to consider as your business expands into Europe and potentially beyond. Having invested in expansion and diversification the last thing you want is to suffer an incident that has the potential to stop you in your tracks :- particularly, when the solution may have been achievable at little or no additional expense to the business.

You need the support that only an advisor well versed in the world of international risk and insurance can provide. Do not rely on “off the shelf” insurance products, as they are unlikely to respond when you need them the most.

  1. Does your Product Liability insurance cover goods being sold outside the UK?
  2. Does your Public Liability insurance cover your business activities outside the UK (e.g. when you visit your customers or install your products).
  3. What would happen if you or a member of your staff fell ill while abroad on business? Do you have Travel insurance to make sure they are properly cared for and to cover the costs of sending another staff member to cover their work?
  4. On what terms are you selling your products to overseas buyers? Do these make you responsible for insuring them in transit?
  5. Are you setting up premises abroad?
  6. Will you have a stockholding outside the UK to fulfil orders?
  7. Will you be employing any non UK resident staff?
  8. How are you taking payment? Are you exposed to fraudulent activity?
  9. Will currency fluctuations seriously affect your profit margin?
  10. How well do you know your customers? Should you think about Credit insurance?

If you have any concerns about any of the areas mentioned above, please do not hesitate to contact Peter Heffer at Towergate Insurance Brokers, who will be happy to offer his insurance expertise.
Peter Heffer Cert CII, Towergate Insurance Brokers.

Call DD: 01795 597179 M: 07484 076067 or email:


Towergate Insurance Brokers is a trading name of Towergate Underwriting Group Limited. Registered in England Number 04043759. Registered Office: Towergate House, Eclipse Park, Sittingbourne Road, Maidstone, Kent, ME14 3EN. Authorised and Regulated by the Financial Conduct Authority.

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