IronPro increases stand-alone K&R coverage to $25M

IronPro, the professional and management liability unit of Ironshore Inc, has enhanced its stand-alone Kidnap & Ransom coverage for US-based corporate entities with global exposure. IronPro is introducing a suite of product offerings with comprehensive terms and conditions to protect corporate executives and their families from exposure to unexpected, harmful events.

IronPro is increasing global cover capacity for limits of up to $25 million, up from a current $5 million limit. Program coverage includes event-related expenses, such as ransom payments, extortion, hijacking and wrongful detention. In addition, IronPro has entered into an exclusive contract for US-based companies with Hazelwood Street Consultants to provide professional crisis management services for personal safety guidance, security protection and event resolution.

“Kidnap events, often unreported, have increased in recent years due to heightened turmoil and conflict in regions around the world,” stated Greg Flood, president of IronPro. “Corporations based in the U.S. demand broader coverage options that are underwritten in response to potential unforeseen risk at home and abroad, which threatens operations, executive security and personal endangerment.”

IronPro’s K&R program enhancement incorporates both insurance and professional services protection through its relationship with Hazelwood Street Consultants, a global crisis management and personal security firm.  Hazelwood analysts offer expert guidance regarding proactive personal security measures for corporate executives and high net worth individuals and families, available 24/7 worldwide.

In the event of a crisis, Hazelwood deploys a team of expatriate first responders from its global network of trained consultants to provide on-ground support within hours of the event being reported.