If there is one trend that can be seen in the last decade, it is that the world is becoming more and more a small global village. This fact today allows more and more businesses and companies to operate more easily in the international arena and to expand their businesses overseas. At the same time, we are witnessing an extraordinary flourishing of Israeli companies, among them high-tech companies and startups, who provide the services and products they have developed to many customers in the world. The expansion of the activity is welcome, but also entails quite a few risks, which relate to the exposure involved in dealing with and working with many parties. either directly or indirectly.
The Israeli companies establishing international activities today should be aware of the same risks, and adapt the insurance to their activities accordingly. It should be understood that the insurances that exist today do not always cover cases of activity with clients and various parties abroad. For this purpose, CGL insurance was established, which helps international companies to benefit from insurance coverage for their activities overseas and to have peace of mind.
What does CGL insurance include?
- Coverage against bodily or property damage claims caused to the third party, as a result of negligence or use of its products/services. including, following actions taken by the company’s employees as part of their work.
- Damage to a person’s good name as a result of libel, defamation, etc.
- Coverage of relatively small medical payments, incurred by a person injured within the premises of a business or company, even if the incident did not occur due to the negligence of the company or any of its employees.