Several specialty insurers announced product changes and enhancements this month, including The Hiscox Group, which launched a kidnap & ransom offering in the United States.
At Hiscox, Lisa Zanotelli and Derek Rogers have joined Hiscox USA to develop and underwrite the U.S. standalone K&R insurance product. The coverage will be written on an admitted basis through Hiscox USA's two New York locations in Manhattan and Armonk.
According to the Web site of Bermuda-based Hiscox, even before the launch of this U.S. admitted product, Hiscox was the world's largest provider of specialist kidnap, detention and extortion insurance, with a market share of 60-to-70 percent based on premiums.
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