Allianz Global Corporate & Specialty announces strategic partnership with global crisis management assistance company red24

Allianz Global Corporate & Specialty (AGCS), the corporate insurer of Allianz Group, has announced a strategic partnership with red24, a global crisis management assistance company.

A press release from AGCS on Thursday said that red24 will offer its crisis support services to AGCS clients “in order to manage product recalls or contamination, resolve emergency incidents or conduct evacuations from countries in turmoil.”

With its global network of consultants – the company has operating experience in over 120 countries and the capability to provide on the ground assistance for clients across the globe within 24 hours – red24 will support AGCS underwriting of terrorism and political risks by providing country risk profiles and in-depth analysis, the release said, adding that AGCS is offering clients stand-alone cover against terrorism and political unrest for their overseas locations.

AGCS has been building its Crisis Management division within the Global Liability line of AGCS, bundling activities relating to product recall and contamination, terrorism and political violence and hostile environment solutions, the release said. This division is led by Christof Bentele as head of global crisis management, who is reporting to Michael Hohmann, global head of liability, AGCS.

“Political risks and violence are increasing in many countries of the world,” Hohmann said in the release. “With our new partner, red24, our crisis management policyholders will benefit from exclusive access to various emergency services which are essential in tense situations. Equally important are the prevention and risk mitigation services of red24 which will increase our clients’ resilience by simulating worst-case scenarios and testing emergency procedures.”

The release said that red24 was selected as a result of a “thorough tender process” involving several crisis management support providers. “Our aim was to identify the best match for both AGCS and our clients,” Bentele said. “red24 stood out through its global network and deep practical experience of international crisis case handling.”

In addition to support for AGCS terrorism underwriting, red24 will support AGCS policyholders of crisis managements products in several ways, the release said. With its dedicated Food Safety and Product Recall business unit, red24 will help AGCS clients prepare for risks relating to their products as well as respond to immediate crisis situations such as recalls or contamination incidents. Support will include technical product testing in laboratories around the globe as well as advice and support on legal, regulatory and communications considerations.

Furthermore, red24 will assist AGCS clients to carry out evacuations in high-risk situations at short notice and provide prevention, risk mitigation and on-the-ground response services for emergency incidents, the release said.