HCC Global Financial Products, a provider of Financial Lines Insurance since 1999, announced the launch of an international HCC branded Kidnap and Ransom (K&R) Insurance product in conjunction with HCC Specialty, which has been providing K&R insurance since 1980. HCC Global and HCC Specialty are affiliated businesses owned by HCC Insurance Holdings, Inc.
“HCC Global will offer K&R insurance, with policies commencing in January 2013, to its international network of brokers in Europe, the Middle East, Africa and Asia, upholding HCC Specialty’s reputation as a specialty insurer of reference for K&R in the international market,” said the announcement.
Thibaud Hervy and Philippe Vezio, Managing Directors at HCC Global, commented: “Over the past 13 years, HCC Global has developed a unique international distribution platform for specialty insurance solutions suited to our worldwide clients. We are excited to add this new product to our catalogue and look forward to presenting it to our brokers.”
“HCC Specialty has vast experience in providing solutions to large corporations and families potentially exposed to the threat of kidnapping, extortion and detention. That, together with our in-depth local knowledge of international markets, will ensure a seamless level of service and first class underwriting for our clients,” they added.
Bert Van Wagenen, Senior Vice President of Underwriting at HCC Specialty noted: “We have built a strong presence in the K&R insurance market over the last 30 years, and we feel that the time has come to develop an HCC branded K&R international product.
“In order to do so, it was vital for us to count on a global multilingual partner with extensive reach and one able to maintain the high underwriting standards on which we pride ourselves. HCC Global’s international operations are well positioned to incorporate K&R in their product line-up, and our areas of collaboration are set up for success.”
Source: HCC Insurance Holdings, Inc.