Specialty insurer Brit has announced a new partnership with crisis law firm Schillings Critical Risk, through which the companies will develop a comprehensive insurance package covering kidnap and ransom (K&A).
Brit said that the partnership had been entered into as a response to the increasing threat of kidnapping for travelling employees, as businesses send more and more employees into ever more dangerous locations, exponentially upping the risk to which they are exposed. The company cited statistics suggesting that there could be as many as 30,000 incidences of kidnapping for ransom every year globally, with thousands of these involving foreign nationals.
The team that will develop the package will be led by Stephen Quinton, supported by John Chase of Schillings Critical Risk, who has decades of experience in kidnap for ransom, extortion, blackmail, hijacking, illegal detention and related risks.
“Crises happen with more frequency and with more long-term repercussions than ever before,” said Rod Christie-Miller, CEO of Schillings. “With over 35 years’ experience as an international issues and crisis law firm, this joint partnership will ensure that we continue to protect clients from the reputation, privacy and security threats of today, as well as the issues and crises of tomorrow.”