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Kidnap and Ransom INSURANCE

Why kidnap and ransom insurance?

The victims of kidnapping can be targeted due to their wealth, public profile or even for just being in the wrong place at the wrong time. A kidnap, ransom and extortion policy will provide financial reimbursement and support following kidnap, extortion, detention or hijack.

  • Extensive cover
    Employers have a Duty of Care to employees who are travelling on business. We can arrange cover that looks after your employees, reimbursing costs and expenses occurring both during and after an incident. 
  • Prevention services
    Specialist consultants aligned with your chosen insurer can help you implement measures, systems and training to reduce the risk and manage exposures.            
  • Here for you
    In the event of an incident such as a kidnapping, an insurance policy will provide 24/7 support so that you have a specialist on hand to help.

How we can help

Our team of specialists can help you arrange the right level of cover so you or your employees are covered in the event of an emergency. 

Initial assessments can be made if you provide us with basic information including company name, turnover, business description and estimated travel pattern.

 

Product benefits and features

A kidnap, ransom and extortion policy is designed to provide both financial reimbursement and support following kidnap, extortion, detention or hijack. The benefits of such a policy usually include:

  • Reimbursement of ransom payments and any interest payments on loans required to raise liquid funds to pay the ransom.
  • The costs of replacing a ransom lost whilst in transit.
  • Other costs and expenses occurring during and after an incident including: medical and psychiatric costs, legal costs, temporary security measures, personal financial losses, rest and rehabilitation expenses, salary payments and travel expenses.
  • Legal liability (under corporate policies only).
  • Personal accident benefits.
  • Unlimited costs and expenses of specialist response consultants to assist with the handling of the incident.A number of policy extensions for corporates, covering threat assessment, loss of earnings and political evacuation (we are able to advise on the suitability of these on a case by case basis).

Response consultants

A key component of the policy, and one that is often overlooked, is the services of the response consultants - a team of specialists with extensive experience in the handling of kidnap, extortion and related incidents. They are able to evaluate the possible options open to the client and advise on the consequences of each action. The team’s advice and assistance will be based upon their personal and shared experiences, so that the handling of the incident is grounded on tried and tested procedures.

Whilst the costs of the response team are usually covered by the policy on an unlimited basis, it is important to recognise that they are working on the client’s behalf and not the insurers’. The aim of their advice is to bring the incident to a successful resolution, where the victim is returned safely or the threats cease.

Prevention services

The response consultant team, provided by insurers, can be employed to assist with identifying risks and implementing measures, systems and training to reduce the risk profile and manage exposures. Services include:

  • Risk and threat information at both
    a country and city level.
  • Travel security and hostile environment
    training and briefings.
  • Crisis management training covering specific
    kidnap and extortion exercises.
  • E-learning packages.
  • Travel tracking, locating and monitoring services.

Global protection

As businesses search to reduce costs, the use of overseas workforces is becoming more and more common. As a result, staff are being sent to all areas of the world. Employers owe their employees both a moral and a legal duty of care. It is essential when sending staff into high risk areas on long term placement or a business trip - that appropriate procedures and protocols are in place to ensure their safety.

Frequently asked questions

Q
Is it illegal to insure against kidnap and ransom?
A
No. It is not illegal to purchase a Kidnap & Ransom policy. As highlighted above, the policy provides many more benefits in addition to reimbursement of ransoms. However, there are serious legal matters to consider and by having a Response Consultant acting on your behalf (as provided by the policy) you can be sure that you will be acting within the law. But it is illegal for insurers to reimburse ransoms payments to known terrorists (i.e. organisations or individuals on designated UK lists).