World Insurance


DEFINITION of 'World Insurance '

A commercial liability policy with extended global coverage. World insurance provides coverage in the event the policyholder is sued anywhere in the world. In general, however, commercial liability policies have a geographic limit for coverage. It is common for companies with global operations or who have contracts with international partners/associates to purchase this type of world coverage. This added coverage requires the policyholder to pay an additional premium.

BREAKING DOWN 'World Insurance '

In addition to property and workers compensation insurance, commercial liability insurance (also referred to as general liability insurance) is essential to businesses. This insurance protects the assets of a business in the event it is sued for alleged bodily injury or property damages. The insurer may also cover damages and legal expenses associated with covered claims involving actual or alleged: product liability, contractual liability, personal injury, advertising injury and other commercial risks as indicated in the policy.

  1. Commercial Property Insurance

    Insurance that is used to cover any type of commercial property. ...
  2. Commercial Multiple Peril Policy

    A commercial insurance policy that offers at least two forms ...
  3. Insurance Underwriter

    A financial professional that evaluates the risks of insuring ...
  4. Actuarial Risk

    The risk that the assumptions that actuaries implement into a ...
  5. Insurance

    A contract (policy) in which an individual or entity receives ...
  6. Coastal Barrier Improvement (CBI) ...

    A federal law that makes federal disaster relief and federal ...
Related Articles
  1. Insurance

    What Happens If Your Insurance Company Goes Bankrupt?

    When insurance companies go bankrupt or face financial difficulty, it's bad news for policy holders.
  2. Entrepreneurship

    Insurance Coverage: A Business Necessity

    Don't go to work without this policy in place - especially if your work is in your home.
  3. Insurance

    15 Insurance Policies You Don't Need

    Learn how to save money by saying "no" to unnecessary coverage.
  4. Entrepreneurship

    Will Insurance Keep Your Business Safe?

    Skilled employees are key to a successful business. Find out how to avoid a financial setback if they leave.
  5. Options & Futures

    For Top-Notch Insurance Coverage, Compare Quotes

    Find out how to use and compare policy options to get the best coverage at the best price.
  6. Retirement

    What To Do If Your Insurance Won't Pay

    Before paying for coverage, find out what you need to do to ensure you get paid.
  7. Insurance

    Explaining Indemnity Insurance

    Indemnity insurance is an insurance policy that protects business owners and employees from losses due to failure to deliver expected services.
  8. Insurance

    Designer Clothes: Why You Need Special Insurance

    You spend a lot of money on couture creations. Shouldn't they be protected from damage?
  9. Insurance

    Airbnb Insurance: Will It Cover Enough?

    If a paying guest trips over a rug in your home, breaks an ankle and sues for damages, here's how to make sure your coverage protects you.
  10. Insurance

    5 (Possibly) Costly Risks of Being an Airbnb Host

    Guests who get injured or damage your neighbor’s property are just a couple of examples of what can go wrong. Here’s how to protect yourself.
  1. Can I buy insurance to reduce unlimited liability in a partnership?

    Partnership insurance is actually quite common. Most of the time, partners buy insurance to safeguard against the possibility ... Read Full Answer >>
  2. What are the major categories of financial institutions and what are their primary ...

    In today's financial services marketplace, a financial institution exists to provide a wide variety of deposit, lending and ... Read Full Answer >>
  3. How can I invest in a mutually owned insurance company?

    Mutually owned insurance companies do not issue stock or other equity securities. This means you cannot become a shareholder, ... Read Full Answer >>
  4. How are contingent beneficiaries informed of a payout?

    One of the greatest tools in estate planning is beneficiary designation. Listing primary and contingent beneficiaries is ... Read Full Answer >>
  5. What is the usual profit margin for a company in the insurance sector?

    The best estimates of the average insurance company net profit margin are between 3 and 8%, with a likely median average ... Read Full Answer >>
  6. What are the most popular mutual funds that invest primarily in the insurance sector?

    Under the purview of the financial services industry, the insurance sector is an attractive investment option for mutual ... Read Full Answer >>

You May Also Like

Hot Definitions
  1. Zero-Sum Game

    A situation in which one person’s gain is equivalent to another’s loss, so that the net change in wealth or benefit is zero. ...
  2. Capitalization Rate

    The rate of return on a real estate investment property based on the income that the property is expected to generate.
  3. Gross Profit

    A company's total revenue (equivalent to total sales) minus the cost of goods sold. Gross profit is the profit a company ...
  4. Revenue

    The amount of money that a company actually receives during a specific period, including discounts and deductions for returned ...
  5. Normal Profit

    An economic condition occurring when the difference between a firm’s total revenue and total cost is equal to zero.
  6. Operating Cost

    Expenses associated with the maintenance and administration of a business on a day-to-day basis.
Trading Center
You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!