IronPro, the professional liability unit of Ironshore Inc., has introduced a kidnap & ransom product to complement its suite of management liability coverages. IronPro is offering kidnap & ransom coverage complete with crisis response services, as a leading standalone policy, or in conjunction with its existing management liability lines. The IronPro kidnap & ransom product provides a broad range of liability protection against unexpected occurrences faced by global corporations, including both kidnap and alleged kidnap for ransom, detention, hijacking, as well as bodily injury, property damage and product/trade secret extortion.
IronPro’s kidnap & ransom policy offers limits of up to $5 million. Protection coverages provide for dollar ransom amounts, legal liability and a broad spectrum of incident-related fees and expenses. Such costs can include travel and accommodation, consulting fees, salary reimbursements, external security and rehabilitation.
Crisis response for IronPro clients will be handled by Terra Firma Risk Management Ltd. (TFRM), a worldwide organization of professionals that responds to corporate incidents. TFRM is comprised of an independent team of specialist risk management advisors skilled in the negotiating of solutions and in the management of kidnapping and piracy events.
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