Expatriate Insurance

As companies worldwide expand their businesses abroad, they often place employees on temporary assignments outside of their home countries. The ability to relocate these employees quickly is often complicated by a highly-complex, compliance-driven insurance environment, particularly related to employee benefits and expatriate insurance plans. As governments enact and enforce new and stricter insurance laws and regulations, the risk of even inadvertent violations and ensuing penalties increases considerably for both insurers and multinational employers.

Multinational employers operate in diverse environments in terms of geography and their employees, prompting them to play an increasing role in shaping regulatory policies related to benefits around the world. These employers spend a material portion of total compensation costs to provide benefits to their employees. In an economy that necessitates getting the most from every dollar spent, a formal strategy and governance structure as well as compliance protocols are required for effective execution.

As global employee mobility increases, so does the likelihood of regulatory issues. Matters affecting both insurers and multinational employers include:

  • Extraterritoriality of State Insurance Laws & Form Filings
  • Applicability of Foreign Insurance Laws & Regulations
  • Mandatory Minimum Benefits
  • Conflict of Laws
  • Offshore Paper
  • Applicability of Healthcare Reform
  • Applicability of ERISA & HIPAA
  • Fronting & Reinsurance Arrangements