Victor O. Schinnerer & Co. has added crime and kidnap, ransom, and extortion coverages to its suite of offerings for non-profits. The new coverages round out the program’s existing offering of directors & officers liability (D&O), employment practices liability (EPLI), and fiduciary liability.
Crime insurance provides coverage for incidents including employee theft and forgery, the use of company computers to fraudulently transfer funds, securities or other property, and personal accounts alteration.
Kidnap, ransom and extortion insurance provides coverage for ransom and extortion payments, loss of the ransom or extortion payment while the ransom is being delivered, and many other additional expenses incurred as a result of a kidnap, extortion, detention or hijack. The coverage also provides access to a crisis response firm to assist policyholders, should an event occur. Kidnap, ransom and extortion coverage can be written on a stand-alone basis, or as part of a package.
The carrier for all of Schinnerer’s non-profit management liability offerings is Navigators Insurance Co. The program is available nationwide on an admitted basis through licensed agents and brokers.
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