The facility is accessible to all Tangram appointed retail brokers in the US, providing up to $50m in Kidnap & Ransom Coverage and up to $2.5m per person in Personal Accident & Illness
Tangram Insurance Services, Inc. (“Tangram”), a Managing General Agency, and Costero Brokers, Ltd. (“Costero”), an independent London broker, today announced a partnership with Brit Syndicate at Lloyds (“BRIT”) to provide Kidnap & Ransom and Personal Accident coverage through an exclusive facility.
The facility is accessible to all Tangram appointed retail brokers in the US, providing up to $50m in Kidnap & Ransom Coverage and up to $2.5m per person in Personal Accident & Illness. The coverages include Extortion, Unlawful Detention, Hijack, Disappearance, Hostage Crisis and Threat Response. Additionally, the facility can provide up to $250k in cyber extortion limit, covering extortion incidents from a computer attack, network disruption and restoration of data costs. It also provides coverage for related cyber incident response costs, business interruption expenses and legal costs.
“We are excited to partner with our colleagues at Costero to offer BRIT’s comprehensive Crisis Perils coverage. BRIT is a market leader and we are thrilled to add them to our stable of trusted carrier partners. We are hopeful that the additional coverages provided, especially the cyber portion, which is not readily available from other markets, will be a sought-after solution for our partners,” said Tracy Bernard, Tangram’s SVP, Head of Program Development.
Bruno Schuoler of BRIT noted, “We are delighted to partner with Costero and Tangram on a facility that we believe can be catered for a broad range of client needs. We are thankful that Costero have selected BRIT as an insurer with the knowledge and experience in a lead capacity, to provide access to underwriting expertise in this specialized field of insurance.”
Source: Company Press Release