United States government contractors often hire employees and sub-contractors to do work that takes place outside of the United States. When you do this, there is always the risk that something could unexpectedly go wrong and lead to an employee or subcontractor being injured or even killed. In the off chance that this occurs, you would be held liable. Because of this, it is vital that you have dba insurance.
What Is DBA Insurance?
DBA insurance or defense base act insurance is a type of insurance coverage that protects government contractors from financial damages that can occur when an employee or sub-contractor is injured/killed while working outside of the United States. It can cover the cost of things like medical bills, evacuation, and a variety of other serious needs.
How Much Does DBA Insurance Cost?
Determining the price of DBA insurance is not exactly easy. There are many different factors that come into play when an insurance provider is deciding on the price you will pay for DBA insurance. Some of these factors are:
- Geographic regions where work is being done
- Number of trips
- Qualifications of the employees being sent
- Number of employees
- Your history of claims/losses with DBA insurance
Sending employees to work in another country is always risky. DBA insurance can go a long way towards helping things run more smoothly.