The launch added that, over the subsequent yr, all K&R insurance policies shall be written on Great American admitted paper, which has been rated A+ (Superior) by A.M. Best.
“This agreement offers the best of all three providers to customers,” stated Stephanie Hoboth, divisional president – constancy/crime at Great American Insurance. “They have access to the underwriting excellence and internationally renowned knowledge of both Great American and Hiscox to precisely assess their exposures. As well, customers are able to tap into Control Risks’ expertise related to crisis management, such as kidnap for ransom, extortion, threat and illegal detention.”
“Control Risks has five decades of industry-leading experience underpinned by the largest database of extortive crime in the world,” stated Nick Allan, Control Risks CEO. “We have an unrivalled capacity to help when clients are managing critical incidents and lives are at stake. We work exclusively with Hiscox’s insured clients to provide priority crisis response services and look forward to supporting Hiscox and Great American in their expanded relationship.”
“In this instance, we’re able to leverage the best of Great American, Hiscox USA, and Control Risks,” added Hiscox USA chief government Kevin Kerridge. “This strategic relationship further cements our commitment to this market and creates an all-around comprehensive offering.”
Great American introduced in September the growth of its digital insurance coverage platform for small industrial clients, with the brand new PolicySweet for Agents permitting impartial brokers to supply stay bindable industrial quotes instantly from their company web site.