Zurich Financial Services Group has launched a new product aimed at addressing the evolving complexity of international premium tax and licensing rules — the Multinational Insurance Proposition (MIP).
According to Zurich, MIP has been developed to meet the increased demand from customers and brokers for products that are aligned with global regulatory and tax requirements.
Commenting on the launch, Zurich chief executive, general insurance, John Amore said the product reflected the company’s commitment to the assessment and management of change.
The MIP contains enhancements that include a proprietary global information system that tracks applicable laws and foreign premium tax requirements for almost 200 countries.
It is currently being rolled out for new multinational general insurance policies and, beginning in January 2007, will include all of Zurich’s new and renewal multinational insurance programs.
