XL offers kidnap and ransom cover

XL has expanded its crisis management team’s capabilities to provide insurance cover for kidnap and ransom risks for corporate clients and high net worth individuals.

The firm appointed Charlie Matheson as kidnap and ransom senior underwriter in London and Jonathan Beck is his equivalent in Guernsey.

Matheson left his post as head of kidnap and ransom at JLT Specialty, while Beck joined from Hardy, where he led its kidnap and ransom business.

Both will report to crisis management team chief underwriting officer Stephen Ashwell.

In addition to these appointments, XL announced a partnership with risk consultants Terra Firma Risk Management LLP to provide clients with kidnap and ransom response capabilities and crisis management consultancy.

Furthermore, a deal with Salamanca Group will provide crisis management consultancy advice to XL’s war, terrorism and political violence business that sits alongside the new kidnap and ransom team in the crisis management division.

Ashwell said: “The risks are complex and interwoven, and this new insurance approach considers the challenges to people, property and business interruption and underpins this cover with best in class crisis management and response capabilities from Terra Firma Risk Management and Salamanca Group. 

“This strategy is central to the crisis management team’s business model and our underwriters are building a compelling and holistic insurance solution for our clients across the world.”