Use of Virtual Offices and Virtual Mailboxes

Virtual Office for Insurance purposes

How they can help international companies access U.S. markets

A common obstacle for foreign companies wanting to sell their products in the U.S. marketplace is securing General Liability and Product Liability Insurance from a U.S. insurance provider.  Another common obstacle is the vendors/businesses buying your products. U.S. insurance companies will only want to work with a company that has a physical address in the U.S. This is where a virtual office or mailbox can be of assistance.

If you are a company located outside the U.S., it may be possible to buy a worldwide policy from an insurance provider that is licensed in the U.S. in your region. However, the insurance policy still may not meet all the contract requirements of U.S. vendors. This is because they often require the company to have a physical address and presence in the U.S.

We recommend the following virtual mailbox/office companies to International companies looking to access U.S. markets needing a U.S. presence:

It’s also worth noting that many companies located outside the U.S. working in the U.S. prefer a separate insurance policy for the U.S. This is because of the litigious nature of the U.S. public. They can buy a true worldwide policy covering claims worldwide. But they are concerned that a claim in the U.S. could have a negative effect on the cost of the policy and reduce overall profitability worldwide. By keeping the U.S. business on a separate U.S. policy, any claims brought in the U.S. won’t impact their insurance cost for other parts of the world.

Topic: Product Liability Insurance