Brit has inked a partnership with Schillings Critical Risk to create a new kidnap for ransom offering.
The new product will be led by class underwriter Stephen Quinton, who joined Brit in September 2018 from Travelers Syndicate 5000.
Schillings Critical Risk is part of Schillings – an international issues and crisis law firm – and is led by Schillings partner, John Chase, who brings over 20 years of experience in kidnap for ransom, extortion, illegal detention, blackmail, hijacking and cyber-attacks worldwide.
“In today’s rapidly changing geopolitical and economic climate, extortion and kidnap for ransom are extreme and endemic risks for individuals and businesses operating in many countries around the world. Privileged sources and anecdotal evidence estimate about 30,000 incidents of kidnap for ransom alone per year, with about 1,000 of these involving foreign nationals,” Brit said in a statement.
The carrier added that by combining specialist underwriting capabilities with award-winning privacy, security and reputation expertise, both it and Schillings are committed to building innovative solutions for clients that mitigate and respond to the kidnap for ransom and extortion threats they face.
Brit CEO Matthew Wilson commented: “We are pleased to announce this partnership with Schillings Critical Risk. At Brit, we are always looking for new ways to both enhance the solutions we are able to offer our clients and evolve our capabilities in response to changing risks. This partnership is a strong example of this focus, combining Brit’s and Schillings’ respective expertise to give clients a comprehensive crisis management offering in one place.”
Rod Christie-Miller, chief executive and partner at Schillings, said: "Crises happen with more frequency and with more long-term repercussions than ever before. 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”.