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Survey Report

Insurance Marketplace Realities 2024 Spring Update – International casualty

May 8, 2024

The international liability marketplace remains stable thanks to a depth of competitive carriers that invest in tools and talent which help insureds deliver solutions in a complex landscape.
Rate predictions: International casualty
Trend Range
International casualty arrows pointing left and right Flat

Capacity remains widely available from competitive and capable markets located in the U.S. and Europe.

  • While related lines of business, such as U.S. and excess casualty, can influence international casualty renewals, buyers can anticipate a stable landscape in 2024 benefiting from carrier confidence and healthy competition. While it remains important to align strategy relative to coverage territory, jurisdiction and perhaps the carriers, the market remains strong and stable overall on pricing and terms.
  • International casualty programs centralize the purchasing but also take on the administration, which can be significant depending on the mix of countries. Opportunities remain to leverage purchasing through multi-year agreements, partnering with carriers across multiple lines of business or purchasing a package placement. It should be noted that the property component of a package placement can attract catastrophe coverage underwriting depending on the countries involved.
  • Buyers will be able to optimize results by communicating risk management protocols internally to their stakeholders, delivering clear and consistent underwriting data, structuring programs based on the unique needs of their business, and leveraging purchasing with carefully selected carrier partners.

Country-specific regulatory organizations, carrier wordings and insured business needs all play a role in the design and implementation of international casualty programs.

  • International casualty programs allow for the ability to package other related casualty components, in the master policy as well as in-country. We recommend including employers liability at a local level in countries with significant employee counts; however, not all carriers are able to include EL locally, and certain marketplaces only allow for excess EL over local WC schemes. Other components, such as motor liability and pure financial loss, should be considered only where the risk warrants it.
  • Following federal sanctions imposed in recent months in eastern Europe, global and regional carriers are restricting or eliminating coverage in Russia and Belarus. Coverage from global programs remains a challenge for buyers’ subsidiaries in the region, given the unstable landscape. In these cases, insureds should seek independent coverage in the local market. Global program carriers can consider certain flexibility in the discussion of admitted coverage into Ukraine as well as offering excess/DIC limits around exposures in these countries to protect the insured’s global HQ exposure.
  • PFAS issues (per- & polyfluoroalkyl substances) remain visible for many insureds, particularly for those in the manufacturing and retail space, and certain buyers are asked to complete coverage questionnaires to avoid exclusionary language. Insureds can improve their results by offering carriers some detail about their product mix and a description of any risk management steps they’re taking to mitigate product risks.

External factors play a significant role in the preparation and execution of global programs, with documentation remaining a focal point.

  • Enforcement remains prevalent around compliance with local regulations, as global buyers become aware of rules, such as country exportability, cash-before-cover, local policy coverage territory and occasional audits. The key for global buyers is to work with their broker and carriers well in advance of renewals to outline the required documents and to factor these issues into program structure.
  • In preparation for the implementation of international programs, there are often several know your customer (KYC) and anti-money laundering (AML) documents & KYC documents — and documents will vary depending on the mix of countries involved. It can often take several weeks to identify and complete these documents, so we recommend the elevation of these items prior to renewal; some markets are making them available to insured HQs to get out ahead of the work.
  • Given the administrative work required with many international programs, carriers look to distinguish themselves beyond just coverage and price, investing in tools and data to reduce the administrative burden where possible. Highlighting the locations where AML and KYC documents are required ahead of renewal can reduce the surprises later and tracking the local premiums and policies will ensure smooth renewals.


Willis Towers Watson hopes you found the general information provided in this publication informative and helpful. The information contained herein is not intended to constitute legal or other professional advice and should not be relied upon in lieu of consultation with your own legal advisors. In the event you would like more information regarding your insurance coverage, please do not hesitate to reach out to us. In North America, Willis Towers Watson offers insurance products through licensed entities, including Willis Towers Watson Northeast, Inc. (in the United States) and Willis Canada Inc. (in Canada).

Each applicable policy of insurance must be reviewed to determine the extent, if any, of coverage for losses relating to the Ukraine crisis. Coverage may vary depending on the jurisdiction and circumstances. For global client programs it is critical to consider all local operations and how policies may or may not include coverage relating to the Ukraine crisis. The information contained herein is not intended to constitute legal or other professional advice and should not be relied upon in lieu of consultation with your own legal and/or other professional advisors. Some of the information in this publication may be compiled by third-party sources we consider reliable; however, we do not guarantee and are not responsible for the accuracy of such information. We assume no duty in contract, tort or otherwise in connection with this publication and expressly disclaim, to the fullest extent permitted by law, any liability in connection with this publication. Willis Towers Watson offers insurance-related services through its appropriately licensed entities in each jurisdiction in which it operates. The Ukraine crisis is a rapidly evolving situation and changes are occurring frequently. Willis Towers Watson does not undertake to update the information included herein after the date of publication. Accordingly, readers should be aware that certain content may have changed since the date of this publication. Please reach out to the author or your Willis Towers Watson contact for more information.


Director of Operations,
Global Services and Solutions
Corporate Risk and Broking

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