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.
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