Markham teams up with AIG for K&R offering

Markham Private Clients has launched a new kidnap and ransom (K&R) facility for UK and Latin American brokers.

The new insurance offering will be underwritten by AIG Europe and cover will include:

• kidnap, extortion or hijack – ransom reimbursement;
• ransom lost in transit;
• wrongful detention – all expenses associated with the incident;
• personal accident – a lump sum for injury or death for those involved;
• response consultant costs on an unlimited basis;
• all reasonable additional costs;
• limits up to $100m; and
• access to travel risk information.

Patrick Peters has joined the specialist high net worth wholesale broker to head up the division.

Peters was previously at the European parliament in Strasbourg and the United Nations in Geneva where he specialised in strategic risk, terrorism, counter terrorism, piracy, political violence and conflict analysis mainly in Latin America and North and West Africa.

Peters said: “I am looking forward to building Markham’s kidnap and ransom portfolio and delivering this specialist facility to the company’s broker panel. Kidnapping can be an everyday risk for wealthy individuals and their family members in certain parts of the world and we are able to offer them comprehensive cover underwritten by AIG.”

Peters is fluent in French, Spanish and German and is learning Arabic. Markham co-chief executive Giles Greenfield said: “These skills, coupled with his professional background at the UN and spells in Peru, Venezuela, Colombia, Sri Lanka, France and Oman, make him perfect for brokers looking for expert support and advice when their clients need this type of protection.”