OneBeacon Insurance Group, a Bermuda-domiciled holding company, has expanded its international capabilities by introducing new coverages International Kidnap and Ransom, and International Business Travel Accident.
OneBeacon said that the new coverages target several of the company’s specialty segments with international exposures, specifically technology, energy, financial services and property and inland marine customers. The new coverages are available to current OneBeacon policyholders within these segments at renewal, as well as to new clients beginning August 1.
According to the OneBeacon, the new international kidnap and ransom coverage limits range from $50,000 to $5m per occurrence. International business travel accident coverage provides 24-hour coverage including 72-hour personal excursion protection.
Jeff Capanna, international manager at OneBeacon, said: Our goal is providing critical global coverages in a seamless manner. As these coverages are built on our @vantage product platform, we’ve simply expanded the current package policy and thereby eliminated the need to purchase these coverages on a standalone basis.
Ambrose Yau, international manager at OneBeacon, said: Our international kidnap and ransom, and international business travel accident coverages nicely round-out our already broad international human resources with assistance coverage.