Multinational insurance solutions: make the world your marketplace

How will I manage my water damage loss in a foreign country like India?

What happens if your manufacturing plant in India has a water damage loss? How is it different compared to a similar loss at your manufacturing plant in Canada, and what does “cash before cover” have to do with insurance coverage?

Many Canadian companies are looking beyond Canada’s borders to expand their global horizons, grow their businesses, and leverage international markets to drive growth and increase their bottom line. However, despite these international growth opportunities, it is important for Canadian businesses to consider if they have the right insurance partners with insurance solutions and insight to guide and insure them.

Along with the opportunity that global markets bring to a growing Canadian business, come new and unknown risks as well as regulatory business considerations. Economic uncertainties and geopolitical tensions aside, practical and country specific insurance solutions can be a big concern. This complex risk landscape provides a compelling case for specialized multinational insurance solutions, services and resources.

What is “cash before cover”?

Cash before cover is a regulatory concept applicable to multinational insurance programs, where insurers may not guarantee any coverage until all related premium payments have been received from the insured. Japan, India, South Korea and Indonesia are all cash before cover jurisdictions.

Do I need a multinational insurance policy in India?

Yes, unless prior approval has been obtained from the supervisory authority and then only for companies in special economic zones provided the insurance premium is paid in foreign currency.

How will my policy in India be coordinated with my Canadian insurance policy?

This depends on how the insurance policy in India has been coordinated with the master insurance policy. Generally, a Master Controlled insurance program is set up with a master policy in the country where the customer’s head office is located. For a Canadian-based customer, a master policy would be issued in Canada and a local insurance policy would be issued in India. These two policies would then be linked to create a unified multinational insurance solution to protect your business from risk and liability.  

While this article focuses on a liability loss in India, these multinational solutions could apply to a loss in any number of countries you operate in across the world. Multinational insurance is essential for companies operating internationally. This type of insurance helps ensure compliance with local rules and regulations, provides global support when required, and comprehensive coverage options to handle the unique concerns of companies transacting across multinational borders.

Aviva’s multinational insurance is a global offering, available in Canada, the UK and Ireland. Its strong foundation and capability were built through Aviva’s UK Head office operations over the last 15 years. Our Global Corporate and Specialty (GCS) division takes the dedicated technical expertise of its underwriting and report claims teams and pairs it with an extensive network of global partners.

If you would like a more in depth understanding of multinational insurance solutions, or to speak with one of our experts, please contact us at

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This guide provides an overview of the products and services available through Aviva’s Global Corporate & Specialty solutions. For exact terms, definitions, limitations, and extensions, please refer to the policy wording. Policies provided by Aviva’s Global Corporate & Specialty division are underwritten by Aviva Insurance Company of Canada or are underwritten by local insurers and reinsured by Aviva Insurance Company of Canada. Risk Management and Claims services are provided by Aviva Canada Inc. and a network of external partners. Aviva and the Aviva logo are trademarks used under license from the licensor.

The content in this article is for information purposes only and is not intended to be relied upon as specific professional or expert advice. Aviva Canada accepts no responsibility for action taken as a result of reliance on any information contained in this article.