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Global networks: exploring multinational solutions

By Adam Dobko
Underwriting Manager

A growth in multinational insurance products is a direct response to the globally evolving risk landscape

In a whirlwind of technological development, from global digitalization to the dawn of AI (not to mention geopolitical and economic uncertainty, supply chain disruption and climate change) – the world, and the way we do business, is changing every day.

As a result, companies operating across international borders and within multiple regulatory landscapes are now, more than ever, advised to expect the unexpected.

With the pace of change unlikely to slow and the range of risks widening, global firms need consistent cover across all countries in which they operate, which may no longer be achievable through local policy placements alone. We’re seeing more risk managers considering a global insurance solution, offering the same coverage, with the same terms, across all countries.

A growth in cross-border insurance is a direct response to the evolving global risk landscape and a recent case study from QBE Canada helps illustrate the value of a multinational product:




In anticipation of Canadian RIMS, a broker contacted the team at QBE Canada to seek a meeting to discuss options for a key customer in need of a true multinational solution. The customer recognized that where regional policies are relied upon, there can be inconsistencies in exclusions or coverage limitations between the different policies.  

With operations in Canada, US and Australia, the customer’s key business is specialty rentals and industrial services, with a diverse end-customer base including those in the construction, industrial, education, financial, and government sectors.

The customer could see a potential opportunity to simplify their insurance program but needed the right partner to oversee and implement the switch. Specifically, they had a separate stand-alone policy for their business in Australia, which was one of the main challenges the broker brought forward.



While the customer’s business activities presented the potential for both frequency and severity of claims, their operations were incredibly well managed. 

Indeed, it was the customer’s considered and sophisticated approach to risk management which was a key factor for QBE in agreeing to insure the business.

QBE used its global network to provide a compliant insurance program for their multinational General Liability (including Australia and the US).  The US CGL was written with the support of QBE’s multinational team, while the US Auto and WC were written by QBE's local US based underwriters in support the overall placement using admitted paper with filed forms and rates.

While the Canadian underwriter couldn’t influence the underwriting of the US WC and US Auto policies, we were able to make the most of QBE’s very extensive US operation by utilizing QBE’s underwriters in the US. This team was well qualified to underwrite the risk and committed to supporting the broader multinational opportunity. 



Building Australian coverage into the multinational program means that the customer now enjoys broader and more consistent coverage. Happily, there is also less work involved for the risk manager, who previously placed this policy separately. 

QBE issued admitted policies in Canada, the US and Australia but the program can also include worldwide coverage for claims where needed. All business activities of the insured customer are now covered under a single policy, across all territories in which they operate.

While QBE’s appetite for US WC and US Auto is not well known in the Canadian insurance marketplace, the capability exists, and QBE’s underwriters are open to discussing what we can do an account-by-account basis. The most critical ask is to provide lead time, preferably 30 days for clients requiring US admitted policies and 60+ days where multiple multinational policies are needed.

With the customer providing binding orders for the Canadian GL, Australian GL and US GL alongside the US WC and US Auto, QBE was delighted to meet the needs of this insured by building out a true multinational solution.



The biggest misconception which impacts QBE Canada is the impression that because we use Lloyd’s paper to issue policies in Canada, that we can’t issue admitted policies in the US as Lloyd’s paper is surplus lines in the US.  However, QBE North America (QBE’s US operation) can issue admitted paper in all US states.

Within QBE’s Canadian team, we have the risk appetite to consider insuring complex business risks and experience working with QBE’s multinational network alongside US based QBE underwriters (where needed) to bring a complete solution together.  We welcome opportunities to showcase what we can do.



Further information

QBE can offer multinational solutions for casualty, E&O, and D&O.  QBE can also provide a multinational solution for property where QBE’s Commercial package solution is a fit. 

Where QBE Canada is quoting the Canadian Liability or Fleet, the Canadian underwriter can work with your chosen US broker to request quotes for the US Auto and US WC. The appetite and rating for these coverages is at the discretion of the US underwriter involved. While a global fleet solution is not available, QBE can quote US plated vehicles or fleets by accessing QBE’s underwriters in the US.

We welcome conversations with brokers well before their client’s renewal date so we can determine if we can support their client’s cross-border or multinational placements.

Who benefits from multinational products?


Sectors which benefit from multinational placements include:

- Architects & Engineers

- Communication/Media

- Construction

- Financial Institutions

- Forestry/Wood Products

- Hospitality

- Life Sciences

- Manufacturing

- Mining

- Real estate

- Professional services

- Power & utilities

- Technology & Cyber

- Wholesale & Retail