Filed Under:Markets, E&S/Specialty

CNA Offers New Product for Global Security-Related Issues

NU Online News Service, April 11, 12:35 p.m. EDT

Commercial, P&C and specialty carrier CNA says it has developed a new kidnap, ransom and extortion product to cover a wide range of security-related risks.

Available in 35 states, the insurer’s kidnap, ransom and extortion insurance product provides coverage extensions beyond traditional coverage for threats to damage property or harm employees with a ransom demand, political evacuation, child abduction from a hospital or daycare on the company’s premises, workplace violence incidents and disappearance of an employee when traveling on company business.

CNA says the product is available worldwide and can include directors, officers and employees.

As part of the offering, policyholders will have access to reports and security information from red24, which offers response, risk management mitigation and security advisement services.

CNA says red24 will provide assistance with a security-related situation 24/7 on a global basis.

The firm provides a number of case studies on its website. For instance, red24 provided clients with regular, in-depth reports of the situation following the devastating earthquake and tsunami in Japan a year ago. The firm confirmed client wellbeing and gave them advice about travel or where to safely stay in Japan, says red24.

red24 says it kept in contact with a client in Syria regularly during political unrest in the country last year. When tensions escalated and another client contacted red24 regarding the safety of employees and their families, the firm contacted them and outlined an evacuation plan and assisted in carrying out the plan.

Top Story

Massive flooding hits Texas: Here's what it looks like on the ground

Parts of Texas, including the Houston metro area, are underwater today following heavy rains and flooding overnight. Here's what it looks like on the scene.

Top Story

How to protect your property and business from earthquakes

Take action now, before an earthquake hits, to secure and protect your personal and business property against Mother Nature's wrath.

More Resources

Comments

eNewsletter Sign Up

Specialty Markets Insight eNewsletter

Receive updates and analyses on hard to place and challenging coverages. Sign Up Now!

Mobile Phone
         

Advertisement. Closing in 15 seconds.