XL Catlin is introducing a kidnap, ransom & extortion (KRE) crisis endorsement available with its general aviation insurance coverage to help pilots, aircraft carriers, and other aviation companies address global travel safety concerns, the insurance company said.
With limits of liability up to USD 1m, XL Catlin´s KRE endorsement for aviation companies includes coverage for ransom, in-transit delivery of ransom, extra expenses incurred as a result of the incident, legal liability and consultant services. XL Catlin partners with S-RM, a global risk consultancy, to provide kidnap response services to its kidnap & ransom policyholders, worldwide. Coverage will be available on an admitted basis in all 50 states, pending approval.
XL Catlin is an insurer to the global aviation industry. With underwriters and aviation claims specialists based in New York, Boston, Chicago, San Francisco, Toronto and Calgary, the firm´s North America aviation team offers a suite of aviation insurance coverages for traditional and specialized companies, including major and regional airlines and corporate fleets, through to component manufacturers and fixed-base airport operators.
XL Catlin´s general aviation insurance is tailored for its clients to provide a variety of protection, including hull damage, third party liability and war and terrorism.
XL Catlin is the global brand used by XL Group Ltd.´s (NYSE: XL) insurance and reinsurance companies which provide property, casualty, professional and specialty products to industrial, commercial and professional firms, insurance companies, and other enterprises.