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International Insurance -- The DIC/DIL Policy
The "Naked" or Unsupported Difference In Conditions Policy©
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Intermediate Course: 2
Credit Hours |
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Overview: |
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International
Insurance Coverage is a specialty coverage that protects the policyholder
against specific claims and losses outside the United States & Canada.
This course builds upon the basic course and provides a more in-depth
analysis of the exposures. It looks at the 'second level' of growth of a
firm going international. It is for those companies who not only export
products overseas, travel overseas, may have expatriates living overseas,
may work on a U.S. Government Contact outside the U.S., but may have
investments overseas. It is a non-admitted cover outside the United States
and introduces several new terms such as Difference in Conditions [DIC] and
Difference in Limits [DIL]. |
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Target Audience: |
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Insurance Agents,
Insurance Brokers, Insurance Associations, Business Associations,
Underwriters, Claims Personnel, Loss Control Personnel, and Students
studying Insurance. |
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Scope of Course: |
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Discuss exposures encountered when
investing overseas. |
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Outline the DIC and DIL coverages found on
these covers |
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Understand the triggers of coverage, and |
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Understand how claims are handled. |
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Metrics: |
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Identify the company’s international
exposures, |
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Understand the different exposures
overseas, |
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Explain differences in local (foreign
purchased) coverage and U.S. coverage, and |
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Outline how the business is better able to
protect an asset just as important as their plant, equipment, stock,
etc. |
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Goals: |
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Help industry professionals understand an
increasingly important specialty line of business, and |
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Provide industry professionals with a broader understanding of
International Insurance and the client’s exposures. |
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Understand the advantages and disadvantages
of a "naked" DIC/DIL policy |
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