Cincinnati-based Great American Insurance Co. announced that it has been selected by Chevy Chase, Md.-based Victor O. Schinnerer & Co. as the carrier for its kidnap and ransom insurance program. Although most of the program’s policy provisions will remain the same, the limits have increased to a maximum of $60 million.
The policy offers coverage to individuals traveling abroad for incidents including kidnap, ransom, detention and extortion, as well as their associated expenses such as cosmetic surgery, salary costs of the victim and psychological rehabilitation.
Additionally, the policy will continue to cover the costs of the services of Control Risks Group, an internationally recognized crisis response and business risk consultancy firm.
Was this article valuable?
Here are more articles you may enjoy.
Artist Suing FIFA Over Destruction of Dallas Whale Mural 
Roof Costs Soar Even as Claims Decline: Verisk 
AIG’s Turnaround Under Zaffino Sets Stage for New Leadership 
AI Savings Misses ‘Should Be Making Executives Uncomfortable,’ Bain Says 
