Whenever your employees travel overseas, it’s crucial to ensure not only their safety but also the safety of your company. Obtaining an illness or injury in a foreign country can physically and financially cripple employees, and the subsequent loss of income and productivity poses a potentially fatal risk to businesses, too. Although worker’s compensation policies often fail to extend international coverage, foreign workers compensation insurance acts as a safety net for all parties involved.
1. What It Is
Traditional workers’ compensation insurance often leaves gaps in coverage, as they omit coverage for a number of illnesses and injuries that are more frequently acquired abroad. Medical and transportation expenses, for example, can strain the pockets and health of employees without foreign workers’ compensation insurance.
2. What It Covers
It’s not uncommon for workers to be exposed to diseases during their time overseas. Since a number of these illnesses are rare or nonexistent in the United States, they are unlikely to be covered in a traditional insurance package. Additionally, injuries that occur while in another country, but not during working hours, can be covered under foreign workers’ compensation insurance.
3. Who It Covers
Customizable coverage is available for any employees who live or work overseas, including but not limited the following:
- Independent contractors
- U.S. nationals or expatriates
- Local nationals
- Third-party nationals
Working abroad can offer a number of benefits to both employees and businesses alike, but it’s essential that companies take the necessary steps toward insuring international travelers to ensure the best experience possible.