Insurer AIG UK is partnering with specialist wholesale broker Markham Special Risks (MSR) to make it easier for rapidly growing small- and medium-sized enterprises (SMEs) to obtain kidnap and ransom (K&R) expertise.
“In today’s inter-connected world, SMEs are establishing international operations much earlier in the life-cycle of the business,” said Julien Monegier Du Sorbier, the group’s UK underwriting head -special risks.
“With access to new markets comes the threat of new risks, and companies need a partners who can help them to identify and manage those exposures – whether that is extortion, kidnap or cyber threat.
“This partnership means that, for the first time, AIG’s crisis solution offering is open to business from smaller brokers representing SMEs.”
He added that the product can help SMEs to mitigate against various forms of extortion such as blackmail, employees becoming a kidnap target or being exposed to a potential cyber threat.
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