Victor O. Schinnerer & Company has chosen Great American Insurance Company as the carrier for its kidnap and ransom insurance program. The company announced that although most of the program’s policy provisions will remain the same, the limits have increased to a maximum of $60 million.
Hiscox will continue to offer underwriting support to the program.
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.
The policy offers coverage to individuals traveling in the U.S. and 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.