Cincinnati-based Insurance Co. announced that it has been selected by Chevy Chase, Md.-based & 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.
Was this article valuable?
Here are more articles you may enjoy.
Ben & Jerry’s Co-Founder Says Brand Being ‘Destroyed’ by Magnum 
Virginia Says Airbnb Lacks Insurance License to Offer Host Damage Protection Plan 
Viewpoint: The Danger of Relying on the Insurance of Others 
AM Best: Data Centers Pose Risks Beyond What P/C Industry Has Experienced 
