In Part 1 and Part 2 of this series, we looked at multinational business growth and how independent agents can tap into it. In our final segment, we examine the potential pitfalls of multinational expansion and how agents and brokers can mitigate the risk.
One of the main considerations in placing international coverage is market access, said Dante A. Disparte, director of partner solutions for Clements International. Access to markets like the Lloyds of London syndicates is important since this is the most specialized of the existing insurance players. However, it's difficult for individuals to approach the market without some heft behind them.
Companies like Clements have access to London underwriters and can adapt coverage to a specific situation. Unlike the traditional wholesaler arrangement, which can offer agents existing products that vary only by price, Clements Partner Solutions examines broad customer segments, determines risks and approaches Lloyds collectively to get underwriting.
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