The facility is accessible to all Tangram appointed retail brokers in the US, providing up to $50m in Kidnap & Ransom Coverage and up to $2.5m per person in Personal Accident & Illness. The coverages include Extortion, Unlawful Detention, Hijack, Disappearance, Hostage Crisis and Threat Response. Additionally, the facility can provide up to $250k in cyber extortion limit, covering extortion incidents from a computer attack, network disruption and restoration of data costs. It also provides coverage for related cyber incident response costs, business interruption expenses and legal costs.
"We are excited to partner with our colleagues at Costero to offer BRIT's comprehensive Crisis Perils coverage. BRIT is a market leader and we are thrilled to add them to our stable of trusted carrier partners. We are hopeful that the additional coverages provided, especially the cyber portion, which is not readily available from other markets, will be a sought-after solution for our partners," said Tracy Bernard, Tangram's SVP, Head of Program Development.
Bruno Schuoler of BRIT noted, "We are delighted to partner with Costero and Tangram on a facility that we believe can be catered for a broad range of client needs. We are thankful that Costero have selected BRIT as an insurer with the knowledge and experience in a lead capacity, to provide access to underwriting expertise in this specialized field of insurance."
About Tangram Insurance Services, Inc.
Tangram Insurance Services, Inc. is a national program manager bringing in-depth expertise and specialized program capabilities to a variety of industries. With over two decades of experience, Tangram partners with the top insurance companies to deliver niche insurance solutions. For more information, please visit www.tangramins.com.
About Costero Brokers Ltd.
Costero Brokers Ltd., formed in 2017, initially focused on property and professional lines. Costero Brokers Ltd. is now a multi-class focused Lloyd's of London broker and is looking to expand into additional specialist areas with the hiring of individuals and teams.