Brit, a global specialty insurer and reinsurer focused on underwriting complex risks. says its partnership with Schillings Critical Risk, part of Schillings, recognises that in today’s rapidly changing geopolitical and economic climate, extortion and kidnap for ransom are extreme and endemic risks for individuals and businesses operating in many countries around the world.
The firm says privileged sources and anecdotal evidence estimate about 30,000 incidents of kidnap for ransom alone per year, with about 1,000 of these involving foreign nationals. Stephen Quinton, who joined Brit in September 2018, is leading the partnership’s kidnap for ransom team. Schillings Critical Risk is part of Schillings, the international issues and crisis law firm. Schillings present themselves as the only business in the world to combine relevant legal expertise, intelligence specialists, investigators, cyber security experts and risk consultants into a single multidisciplinary team specialising in privacy and security consultancy. The Schillings critical risk team is led by Schillings Partner, John Chase, who brings over 20 years of experience in kidnap for ransom, extortion, illegal detention, blackmail, hijacking and cyber attacks worldwide. Rod Christie-Miller, chief executive and partner at Schillings said ‘crises happen with more frequency and with more long term repercussions than ever before.’
By combining specialist underwriting capabilities with privacy, security and reputation expertise, both Brit and Schillings say they are committed to building innovative solutions for clients that mitigate and respond to the kidnap for ransom and extortion threats they face. Their joint vision is to help clients navigate an ever changing environment and to protect people, assets and reputations from the risks they may face. Matthew Wilson, ceo of Brit, commented, ‘at Brit, we are always looking for new ways to both enhance the solutions we are able to offer our clients and evolve our capabilities in response to changing risks. This partnership is a strong example of this focus, combining Brit’s and Schillings’ respective expertise to give clients a comprehensive crisis management offering in one place.’