QBE relaunches kidnap and ransom offering

The specialty division of QBE European Operations today has launched a revitalised kidnap and ransom (K&R) insurance product. The refreshed K&R team will be headed by underwriter Jonathan Beck, who recently joined QBE; and, importantly, crisis response for clients will be delivered via a newly announced partnership with Terra Firma, who will act as response consultant for the cover.

Graeme Rayner, managing director for the specialty division of QBE European Operations said: “The key to a strong K&R product is having the right underwriting team in place, supported by a crisis response team who can take immediate action in the event of a situation arising.

”We are delighted to be partnering with Terra Firma to deliver exactly that partnership. Our in-house team have a wealth of experience in this area, and together with our new response consultants, I believe we can offer the market a world-leading K&R product.”

A spokesman for Terra Firma welcomed the new partnership: “Ideal opportunities like this are few and far between, and Terra Firma’s advisors are very pleased to be working with Jonathan Beck and his team to deliver a comprehensive, first-class service to QBE insureds. We look forward very much to working with those we know in the special risks market, and those we have yet to meet.”