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A top executive was traveling on an extended international business
trip. Due to an oversight, the company forgot to place travel coverage
on him for the benefit of the company. He had already traveled from
New York to South America, was planning to go on to Europe and then
back to United States. His death or disability could cost the company
millions. The executive’s insurance broker contacted HCC Specialty
Underwriters and asked that we immediately bind $10 million of
Accidental Death and
Dismemberment including war and terrorism. Our ability to provide
a quick response allowed the company to transfer a significant
financial
exposure and let the executive continue his successful business
trip.
When the two owners of a thriving $100 million dollar business
decided they needed to re-structure their buy-sell plan to include
disability,
their insurance broker turned to HCC Specialty Underwriters. Their
current plan had been funded with life insurance, but if one
of them became permanently
disabled, the corporation would have a potentially unfunded liability
of several million dollars. HCCSU was able to provide the required
limit of insurance, so that the updated buy-sell included both
life
insurance and disability insurance protection.
High net worth individuals require disability insurance amounts
in limits substantially higher than most insurance carriers can
offer. HCC Specialty Underwriters is a leading provider of individually
purchased high
limit disability insurance. We can provide limits in-house of $40,000,000
on both a primary or excess basis.
There is no question that wealth and celebrity has its price. When
that price involves extortion, kidnapping and ransom, the darker
realities of our world are brought into sharp focus. When a clothing
manufacturing executive was kidnapped and held in a sealed pit
for
almost two weeks, he and his family were glad that he protected
himself and those closest to him with a Kidnap/Ransom and Extortion
policy. The policy provides reimbursement for monies surrendered
as either a ransom or extortion payment and extends to all relatives
and guests of the executive. HCC Specialty Underwriters can help
arrange coverage to protect
high-profile individuals with our sister company, PIA.
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