kidnap & ransom News

Underwriting Agency, CFC, Partners with Kidnap Response Expert EOS Risk

Lloyd’s managing general agency CFC announced it has formed a partnership with risk management and security consultant, EOS Risk. EOS Risk joins red24 and S-RM on CFC’s panel of security companies that specialize in global kidnap and extortion incidents. “Highly …

Firms Turn to Kidnap Insurance Policies to Cover Ransomware Losses

Companies without cyber insurance are dusting off policies covering kidnap, ransom and extortion in the world’s political hotspots to recoup losses caused by ransomware viruses such as “WannaCry,” insurers say. Cyber insurance can be expensive to buy and is not …

XL Catlin Extends Partnership with Kidnap Response Specialist S-RM

XL Catlin’s insurance operations announced it has extended its partnership with S-RM, the London-based specialist risk and business intelligence consultancy, effective Jan. 1, 2017. S-RM becomes XL Catlin’s provider of choice for delivering kidnap response services to XL Catlin’s kidnap …

XL Catlin Launches Emergency Security & Disaster Evacuation Solution

XL Catlin’s insurance operations announced the launch of an Emergency Security and Disaster Evacuation (ESDE) solution for businesses with employees working internationally. This new solution, underwritten out of London, Guernsey, Hong Kong and Singapore, has been designed to respond to …

Business Interruption Tops List of Risks Facing Global Organizations: Survey

Business interruption, property damage and general liability are the top three risks faced by businesses, non-governmental organizations and governmental agencies operating outside the U.S., according to the Summer/Fall edition of “Clements Worldwide Risk Index.” In fact, business interruption and property …

Beazley Appoints Crux Risk to Provide Kidnap and Crises Response Services

Beazley, the London-based provider of specialist insurance cover, has retained Crux Risk* to provide preventative and response services to clients facing kidnaps or other threats to their personnel. “The Crux team brings extensive experience handling some of the most complex …

Seven Corners Launches Kidnap & Ransom, Crisis Management Travel Coverages

International travel insurance and specialty benefit management company Seven Corners, Inc., has unveiled two new insurance products – Captum Kidnap and Ransom and Ally Crisis Management – for international travelers. Captum Kidnap and Ransom coverage is sold online and provides …

Islamic State’s Business Model Must Be Disrupted: Bloomberg Editorial

What it means for a European nation and member of NATO to declare war against a stateless band of terrorists is an interesting and important question, made urgent by Islamic State’s brutal attack on Paris last Friday. As Europe and …

XL Launches Security Insight Platform to Identify Global Business Risks

XL Group’s kidnap & ransom underwriting team has announced the launch of its new Global Security Insight (GSI) platform. Created and frequently updated by Salamanca Group, the merchant banking and operational risk management business, the global platform provides XL Group’s …

UK Anti-Terrorism Proposal Would Clarify Insurance Law on Ransom Payments

The U.K. government will introduce anti-terrorism legislation this week requiring internet companies to provide user data to authorities. The bill, to be published on Nov. 26 and fast-tracked through Parliament so it becomes law before the general election in May, …