CNA announces a new Kidnap, Ransom and Extortion insurance product. Recognizing that security-related events have proliferated and can occur anywhere in the world, CNA’s new product goes beyond traditional coverage to address a broad range of security-related situations that a company of any size in virtually any industry could face.
With CNA’s Kidnap, Ransom and Extortion insurance, coverage extensions are available to address situations resulting from threats to damage property or harm employees without an associated ransom demand, political evacuation for both a business traveler or expatriate, child abduction from a hospital or daycare center on a company’s premises, disappearance of an employee when traveling on company business to workplace violence incidents. Coverage can be provided on a worldwide basis and includes the insured’s directors, officers and employees.
In providing this coverage, CNA is working with London-based red24, a premier crisis response firm with a strong reputation for offering risk mitigation training, security consultancy advice and response services to organizations around the world. red24 will provide assistance with a security-related situation 24/7 on a global basis. As part of the product offering, insureds will have access to red24’s online reports and travel security website as well as risk mitigation training.
CNA’s Kidnap, Ransom and Extortion insurance is currently available in 35 states. For additional information about this coverage, agents and brokers should contact their local CNA branch or Lisa Zanotelli, underwriting director, at email@example.com.