What it does
CG 24 23 expands the coverage territory to include the specified additional countries in the schedule. It contains the same foreign suit provisions as CG 24 22: the insured defends and pays where the insurer is legally prevented and is reimbursed, payments are in U.S. dollars, and coverage disputes go to U.S., Puerto Rico or Canadian courts.
Who needs it
Insureds with known foreign exposures, such as a contractor working on a project in one country or a company exhibiting at a specific foreign trade show.
Key provisions and limits
- Insured must maintain coverage required by local law.
- Excess over other insurance in the circumstances listed in the endorsement.
Quoting and selling notes
- Cheaper and easier to underwrite than worldwide coverage when the countries are known.
