International Insurance Programs - Legal Frictions and Solutions

Martin Strnad, Head Legal Global Corporate, Zurich Insurance Company, Switzerland

Risk transfer from multinational corporations to global insurance underwriters, together with associated servicing needs, are sometimes in discord with long standing regulatory insurance rules and tax requirements. Yet the Globalisation of markets requires underwriters to insure exposures worldwide. This article outlines a few of the legal challenges global insurance programs are faced with and touches upon some traditional and some new solutions generally applicable in the different countries where such business is produced. As such, this article is not an analysis under UK law but looks at some of the issues associated with program business by reference to a number of different jurisdictions.

Zurich Financial Services Group is an insurance-based financial services provider. Headquartered in Zurich, Switzerland and founded in 1872, Zurich has a global network of subsidiaries and offices in North America, Europe, Asia Pacific, Latin America and other markets. 60,000 employees serve customers in more than 170 countries.