Clements Worldwide Cautions Contractors about New Procurement Process for DBA Insurance
PR Web |
Clements Worldwide, leading provider of international insurance solutions, reports the U.S. State Department’s pre-negotiated agreement with insurer CNA for the provision of Defense Base Act (DBA) coverage has been suspended. As a result, all DBA policies with renewal dates of
• Higher rates: o Minimum premiums now apply, which could be significantly more expensive for
contractors with operations in
• More complex procurement: o Brokers must now present risk in order to obtain quotes.
o Insurers will now require claims experience information in order to rate individual
accounts.
• Varying limits: o Although basic coverage will remain the same, certain extensions (such as evacuation)
may have varying limits depending on the insurer.
“Failure to obtain DBA insurance for all covered employees not only subjects an organization to the risk of potential lawsuits by its employees, it also exposes the company and its officers individually to possible
Malik urges all U .S. government contractors and subcontractors to promptly consult with an authorized DBA insurance expert to ensure proper compliance with the State Department’s new requirements.
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About Clements Worldwide
Clements Worldwide is an authorized DBA insurer and leading insurance provider for expatriates and international organizations. Founded in 1947, Clements offers international car, property, term life, health, specialty and high risk insurance in over 170 countries. With offices in
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