What Does Controlled Master Insurance Program Mean?

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What does Controlled Master Insurance Program mean? Read on to discover the definition & meaning of the term Controlled Master Insurance Program - to help you better understand the language used in insurance policies.

Controlled Master Insurance Program

Controlled Master Insurance Program

An insurance program for a multinational business wherein the coverage terms and conditions apply on a blanket basis to all of the insured's international operations. Local underlying policies are issued overseas to support the centralized program. Unlike global insurance programs, master insurance programs do not typically include the United States in their coverage territory; a separate domestic program is usually arranged for U.S. multinationals under this approach.

We hope the you have a better understanding of the meaning of Controlled Master Insurance Program.

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