Managing general agency Tangram Insurance Services and London-based brokerage Costero Brokers have partnered with Brit Syndicate at Lloyds.
Under the partnership, the companies will offer Kidnap & Ransom and Personal Accident coverage through an exclusive facility which is accessible to all Tangram appointed retail brokers in the US.
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The coverage is said to include extortion, unlawful detention, hijack, disappearance, hostage crisis and threat response.
This new facility, according to the company, will offer up to $50m coverage in Kidnap & Ransom and up to $2.5m per person in Personal Accident & Illness.
In addition, the facility can provide up to $250k in cyber extortion limit, for extortion incidents including computer attack, network disruption and restoration of data costs.
It will also offer coverage for related cyber incident response costs, business interruption expenses and legal costs.
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By GlobalDataTangram senior vice-president and Programme Development head Tracy Bernard said: “We are excited to partner with our colleagues at Costero to offer BRIT’s comprehensive Crisis Perils coverage.
BRIT is a market leader and we are thrilled to add them to our stable of trusted carrier partners. We are hopeful that the additional coverages provided, especially the cyber portion, which is not readily available from other markets, will be a sought-after solution for our partners.”
Bruno Schuoler of BRIT added: “We are delighted to partner with Costero and Tangram on a facility that we believe can be catered for a broad range of client needs. We are thankful that Costero have selected BRIT as an insurer with the knowledge and experience in a lead capacity, to provide access to underwriting expertise in this specialized field of insurance.”
In May this year, Tangram Insurance Services entered into a partnership with the national workers compensation carrier Service American Indemnity Company to enhance its Social Service Workers Compensation Programme.
