Small to midsize companies are more likely to experience losses from doing business outside the United States or Canada than larger companies, according to an insurance company survey.
The findings were contained in an online 2008 Multinational Risk Survey of chief executive, operating and financial officers and risk managers at 212 U.S. companies conducted by Chubb. The Warren, N.J.-based insurer reported the results at the Risk and Insurance Management Society annual conference here.
"What we're seeing in the market place today is that small and medium-sized companies around the world are expanding into multiple countries outside their home base. It's not just for the Fortune 100, Fortune 200 companies," Kathleen Ellis, a senior vice president at Chubb & Son and worldwide manager of the Multinational Risk Group for Chubb Commercial Insurance, told National Underwriter here.
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