What it does
CG 24 24 extends the coverage territory worldwide but excludes the specified excepted countries in the schedule. The foreign suit, currency, dispute forum and local compulsory insurance provisions match CG 24 22.
Who needs it
Exporters, multinational service firms and travel-related businesses where underwriters will grant worldwide coverage only if certain jurisdictions are excluded.
Key provisions and limits
- Insured must maintain locally compulsory coverage.
Quoting and selling notes
- Review the excepted country list against the client's actual travel and sales.
- Ask for a list of countries visited or sold into each year and compare it with the excepted countries; sanctioned countries are excluded under all three territory endorsements.
- Keep a record of the countries agreed with the carrier at binding.
