Millstream Underwriting, part of independent specialty managing general agent Nexus Group, has launched Caritas, a new product that combines several lines of business the company underwrites into a specifically designed insurance package to address the needs of international charities and non-governmental organizations.
The Caritas policy offers charities kidnap & ransom, personal accident and travel covers with optional limits, together with crisis management/public relations costs to manage publicity or press coverage following an insured event.
According to Tim Brangwyn, managing director, Millstream Underwriting, the Caritas covers insures a charity’s welfare as well as the organization’s reputation through one package, one point of contact, with support from emergency evacuation services and claims and risk management.
Caritas is offered on an optional basis, giving flexibility to build the coverage that suits specific needs, including:
- Medical expenses – up to £10 million
- Cancellation/curtailment – up to £10,000
- Personal liability – up to £2 million
- Personal accident – up to £50,000
- Kidnap and ransom – up to £5 million for any one event.
Millstream will also consider retail travel insurance schemes for charities’ members that may find access to appropriate cover difficult. This provides tailored baggage and personal effects cover, for example prosthetics or medical equipment, and a more flexible approach to medical/ health conditions and sporting/leisure activities.
The Nexus Group underwrites 15 Specialty products on behalf of 25 underwriting partners. In December, 2015, Nexus acquired City of London based Millstream Underwriting Limited, an independent managing general agency specializing in travel personal accident and sickness insurance covers, primarily underwritten on a business to business basis.
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