The solution is an international insurance programme. An international insurance programme is an individually tailored, cross-border insurance solution for the centralised management of the insurance needs of an internationally active group. The aim is to achieve the most uniform possible protection in line with the risk management philosophy for all risks located in Switzerland and abroad.
The international insurance programme initially consists of a main contract. This master policy is usually taken out in the country of the parent company and ensures that risks are covered worldwide. On the one hand, it acts as a local policy for the parent company and, on the other, it offers additional protection for the Group's foreign locations by means of differential cover. As a rule, this difference in cover extends both to the scope of cover (Difference in Conditions = DIC) and to the limits of indemnification (Difference in Limits = DIL).
The aim of differential cover and the actual main task of a master policy is to harmonise the scope of cover within the group of companies. In parallel, local covers (local policies) are installed in the relevant foreign markets in accordance with operational requirements. Country-specific features such as legal requirements and tax regulations are fulfilled. This also puts companies in the best position to meet the increasing demands of compliance.