Over the next year, all K&R policies will be written on the Great American Admit Paper, which is rated A+ (Superior) by AM Best.
“This deal gives customers the best of all three providers,” said Stephanie Hoboth, Group President, Reliability/Criminal, Great American Insurance Company. “They have access to the underwriting expertise and internationally renowned knowledge of both Great American and Hiscox to accurately assess their exposures. In addition, clients can draw on control risk expertise related to crisis management, such as kidnapping for ransom, extortion, intimidation and illegal detention.
“Control Risks has five decades of industry-leading experience, based on the largest database of extortion crimes in the world,” said Nick Allen, CEO of Control Risks. “We have an unmatched ability to help clients manage critical incidents and help when lives are at stake. We work exclusively with Hiscox’s insured customers, providing priority crisis response services, and look forward to supporting Hiscox and Great American in their expanded relationship.”
“In this event, we will be able to leverage the best of Great American, Hiscox USA and Control Risk,” said Hiscox USA Chief Executive Kevin Kerridge. “This strategic relationship further solidifies our commitment to this market and creates a fully comprehensive offering.”
Great American announced in September that it was expanding its digital insurance platform for small business customers New PolicySuite for Agents Allows independent agents to provide bindable business quotes directly from their agency website.