What does Compulsory Insurance Requirements mean? Read on to discover the definition & meaning of the term Compulsory Insurance Requirements - to help you better understand the language used in insurance policies.
Compulsory Insurance Requirements
The requirement that foreign countries impose on businesses to purchase certain types of insurance coverage to operate in the country for example, fire insurance on certain types of buildings, automobile liability, workers compensation, or inland marine on goods transported by trucks. Frequently, these coverages must be purchased from an admitted insurer in the host country or from the foreign government itself.
We hope the you have a better understanding of the meaning of Compulsory Insurance Requirements.