Firm LE GOFF
International Insurance Program
Internationalization
What You Should Know
Most of the time, international insurance coverage is not adapted to the culture, geographical location and/or level of autonomy of the subsidiary. In short, all its risks are not under control; its subsidiaries are not advised by competent local partners; Your budget and coverage aren't optimized. The solution: the "coordinated" insurance program.
Stand-alone Policies
Pros
Stand-alone policies are taken out directly by the subsidiary in Spain, regardless of any coverage contracted by the group to which it is linked. In this configuration, the advantages are as follows: • Management of policies by the subsidiary • Local needs are taken into account • Risk and insurance control, without the risk of having a "collateral gap" in relation to the group's needs • Proximity service for the branch • Savings on premiums • Policies taken out in the language of the subsidiary's country • Matrix control and visibility • Effective risk monitoring and management • No language barrier
Mandatory Local Policies
Spain
Depending on the applicable collective agreement (state, sectoral or company), your subsidiary in Spain may be obliged to take out insurance that covers the risks of death, absolute permanent disability, severe disability, etc. due to accident and/or illness; and retirement (life insurance savings for employees that guarantees capital upon retirement). These insurance policies are funded by the company and rates vary depending on the insurance company. Spanish insurers have a rate maker with each of the obligations stipulated in collective agreements, which allows instant pricing and subscription. In addition, guarantees, insured capital, and other terms are revised based on changes in regulations.
International Insurance
Program
Internationalization
What You Should Know
Most of the time, international insurance coverage is not adapted to the culture, geographical location and/or level of autonomy of the subsidiary. In short, all its risks are not under control; its subsidiaries are not advised by competent local partners; Your budget and coverage aren't optimized. The solution: the "coordinated" insurance program.
Stand-alone Policies
Pros
Stand-alone policies are taken out directly by the subsidiary in Spain, regardless of any coverage contracted by the group to which it is linked. In this configuration, the advantages are as follows: • Management of policies by the subsidiary • Local needs are taken into account • Risk and insurance control, without the risk of having a "collateral gap" in relation to the group's needs • Proximity service for the branch • Savings on premiums • Policies taken out in the language of the subsidiary's country • Matrix control and visibility • Effective risk monitoring and management • No language barrier
Mandatory Local Policies
Spain
Depending on the applicable collective agreement (state, sectoral or company), your subsidiary in Spain may be obliged to take out insurance that covers the risks of death, absolute permanent disability, severe disability, etc. due to accident and/or illness; and retirement (life insurance savings for employees that guarantees capital upon retirement). These insurance policies are funded by the company and rates vary depending on the insurance company. Spanish insurers have a rate maker with each of the obligations stipulated in collective agreements, which allows instant pricing and subscription. In addition, guarantees, insured capital, and other terms are revised based on changes in regulations.
