Business Services Industry
Global companies face local property challenges.(insurance)
Business Insurance, August, 2001 by Zolkos, Rodd
Exporting a highly protected risk approach to properties that U.S. companies buy or build overseas calls for melding the company's risk management philosophy with local requirements. In the process, local expertise can be key to discerning differences in the quality of available materials and the expertise of local builders, as well as the local building codes, which may vary significantly from codes in the United States.
In the best case, the risk manager will be armed with information to make cost-effective loss control decisions with regard to local operations. ``It's hard for me to think any more in terms of a North American company or a French company, because so many of them are global,'' said Mike Burke, vp and chief engineer at Factory Mutual...
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