Today’s global business leaders recognise that commercial opportunities can emerge anywhere. Taking a risk and venturing into less familiar territories can be necessary to secure opportunity.
Yet the persistent shadow of extremists, criminals and organised gangs means that the safety of individuals can be threatened. The risks range from kidnap through to extortion, illegal detention, political evacuation, hijack and attack.
In this context, global businesses have a duty of care to employees and their families that are working, living or travelling abroad. The ever-changing global security landscape can make it difficult to understand, control and mitigate risks.
Our diverse, global and creative team of specialists works as your agent and problem solver to overcome concerns or challenges, and work out a strategy to leverage your business volumes.
We believe insurance contributes to the growth of your business as well as providing crucial protection in unstable circumstances.
We find opportunities where others see challenges. Our entrepreneurial culture and exclusive analytical ability helps clients to identify and realise opportunity in volatility.
WHAT WE DO
Extortive risks can include:
We can help put together an effective insurance programme, which should include:
- Access to specialist negotiation/crisis management and cyber response consultants
- Legal liability
- Ransom/ransomware reimbursement and transfer
- Expenses surrounding the event including PR consultancy, medical care, psychological counselling, legal advice, gross salary of victim(s) and family, childcare, travel and accommodation, rest and rehabilitation etc.
- Personal accident
- Business interruption (non-damage)
- Network interruption (in respect of cyber)
- Pre-incident funding from insurers to mitigate risks
- Free access to travel security risk platform.
Clients wishing to purchase insurance for security risks need to ensure that they select a broker with the relevant skills, knowledge and expertise in their business sector. We believe insurance contributes to the growth of your business as well as providing crucial protection in challenging circumstances.
We find opportunities, where others see challenges. Our entrepreneurial culture and exclusive analytical ability helps clients to identify and realise opportunity in volatility. Here’s what makes us different:
- We pride ourselves on being accessible across all time zones. By the very nature of these insurances, we understand the great time-sensitivities involved
- Given the sensitivity and complexity for security-related claims, we advocate integrity, efficiency and confidentiality
- We have the tenacity and desire to disrupt the market status quo and drive the insurance market forward with cutting-edge solutions. We pride ourselves in being seen as market leaders
- We have a dedicated team of specialists around the world, focused solely on security risks, so you know you will always receive expert advice and support
- Our long-standing relationships with the specialist insurers in this field means that our market leverage for seeking alternative structures to ensure the most competitive and holistic coverage is available to you. We set the trends, not just follow them
- Our proprietary risk platforms and knowledge hubs are unique to the insurance market and can deliver you with critical risk insights
- Our brokers draw on our in-house analysts’ expertise to identify current risk trends and forecasted risk developments globally that may impact you or your business.
An American businessman on a work trip to Mexico City receives a phone call in his hotel room from extortionists claiming to have kidnapped his son in the US. The perpetrators demanded a USD 25,000 ransom payment to be made within one hour to secure his son’s safe release. Unable to get hold of his family to verify this kidnap incident, the businessman makes immediate payment. Subsequently, it emerged that the kidnapping was a hoax.
The insurance policy would respond by covering the following:
- Response consultants’ fees and expenses to investigate the alleged kidnapping and verify the legitimacy of the perpetrators’ claims and ensure the victim’s safety
- Ransom reimbursement
- Temporary security in the event the family felt threatened
- Travel/accommodation costs for the businessman to travel home.
During a company conference at a hotel in Europe, the hotel is attacked by political extremists. Hotel staff and guests in the main lobby are held and the doors barricaded. The perpetrators make a set of demands to law enforcement outside and a negotiation ensues for five hours. The insurance policy would respond by covering the following:
- Response consultants’ fees and expenses to assist in managing the crisis at corporate level, family and victim level including negotiation, communications, law-enforcement liaison
- Relevant additional expenses including PR consultancy advice, legal advice, salary of the victim(s), medical care, psychological counselling
- Personal Accident including injury, death and permanent total disablement
- Legal liability in the event that the victim(s) decide to litigate the company for failure in duty of care/ negligence.
We deliver results. We deploy all resources to help resolve complex losses and deliver claim payments. Our track record is unblemished.
Our clients have confidence that the insurance policies we arrange for them are expertly structured and written by experienced insurers with strong track records in paying claims. Our approachable brokers work alongside our meticulous CPS claims professionals who specialise in handling, managing and negotiating claims.
In the unfortunate event of a loss:
You would have a single point of contact with overall accountability for all losses wherever they occur
Our proactive claims handling process would help maximise your recovery under your programme, while minimising the intrusion and interference to your on-going operations
We would leverage our strong relationships with the major leaders, loss adjusters and lawyers to help expedite the claims process
You would have access to our sophisticated pre-loss consulting and effective post-loss recovery services.
Our starting point when structuring a new policy is to precisely understand your needs. Our brokers sit alongside a team of risk analysts drawn from security, technical and academic backgrounds.
Their substantial knowledge is utilised to help us understand the precise nature of your risk profile, thereby assisting us in determining the right insurance solution for your requirements.
Using ground-breaking modelling and rating tools, such as Sunstone and World Risk Review, our analysts can pinpoint risks, map exposures, analyse the risk triggers, and evaluate probable maximum loss (PML) ratios across a portfolio of assets.