Advantages


Access to crisis management
response teams
 

Step by step support & guidance
affected loved ones
 
Coverage for personal losses
such as death, dismemberment,
and permanent total disability
 

Kidnap & Ransom Facts*:


Average ransom demand
is over $2 million
 

25,000 – 30,000 reported
kidnapping incidents
 

Estimates say over 80% of
cases go unreported
 

Studies show 87% of victims
are local citizens
 

Worldwide ransom payments
exceed US$1.5 billion
 

70% of all global incidents
reported are from Africa and Asia
 

Top 10 Kidnapping Capitals

Wordwide Latin America
Mexico Mexico
India Venezuela
Pakistan Colombia
Iraq Guatemala
Nigeria Brazil
Libya Haití
Afghanistan El Salvador
Venezuela Honduras
Lebanon Bolivia
Colombia Peru
Statistics were gathered from various online sources

Kidnap Ransom & Extortion Insurance

Incidents of kidnapping for ransom are spreading like wildfire because it is an unbelievably lucrative business for the criminals. According to estimates, each year perpetrators of this crime are able to rake in around $1.8 billion in ransom payments, with the majority of kidnappings of citizens occurring in Latin America and parts of Africa. Prime targets are wealthy businessmen, professionals, tourists, aid workers, and even students. Kidnap and ransom insurance offers protection against the financial losses incurred due to a kidnapping.

Imagine the joy you feel upon release after being kidnapped. Now, imagine how you’d feel upon realizing that your family had to liquidate life savings, take out loans and sell off major assets in order to hire an experienced negotiator, acquire crisis management services and equipment, in addition to the ransom payment. We all know life is priceless and your family’s priority is your well-being. For this same reason, you should consider their well-being in the event of a crisis. Kidnap Ransom and Extortion insurance protects you and your family in the event anyone is victimof a kidnapping. A kidnap and ransom (K&R) policy covers all those expenses mentioned above and much more.

Kidnap and ransom insurance reimburses the policy owner for all of the expenses that they incurred during their frightful ordeal and also takes care of any rehabilitation expenses once you are safely back with your loved ones. Also covers any bodily injury such as a loss of limb sustained while kidnapped.

What Is Kidnap & Ransom Insurance?

Kidnap Ransom & Extortion insurance provides a broad range of benefits and services for individuals and companies operating in both domestic and foreign markets, especially in high-risk areas around the world, such as Mexico, Colombia, Venezuela, the Middle East, as well as some parts of the Asia and Eastern Europe. Kidnap Ransom & Extortion policies offer coverage against the risk of a kidnap, extortion, wrongful detention, and other such events.

What does a Kidnap Ransom and Extortion Insurance Policy cover?

Kidnap Ransom & Extortion insurance provides a broad range of benefits and services for individuals and companies operating in both domestic and foreign markets, especially in high-risk areas around the world, such as Mexico, Colombia, Venezuela, the Middle East, as well as some parts of the Asia and Eastern Europe. Kidnap Ransom & Extortion policies offer coverage against the risk of a kidnap, extortion, wrongful detention, and other such events.

Coverage Benefits:

  • Kidnap Ransom Payment
  • Extortion Ransom Payment
  • Wrongful Detention
  • Hijacking
  • Loss in Transit of Payment
  • Legal Liability
  • Death/Dismemberment
  • Medical, Psychiatric & Rehabilitation
  • Evacuation and Repatriation
  • Crisis Consultant Fees & Expenses
  • Child Abduction
  • Personal Financial Loss
  • Salary Reimbursement
  • Reward to Informants
  • Cost of Temporary Security Measures
  • Legal & Interpreter Fees
  • Forensic Analysis
  • Independent Crisis Negotiator
  • Public Relations Consultant
  • Travel & Accommodations
  • Other Necessary Expenses

How Does It Work?

The insurance protection is a combination of financial indemnification and expert crisis management. A typical policy can cover items such as ransom payments, hostage negotiations, medical and psychiatric care, loss of income, consulting fees, family counseling, rehabilitation and many other related expenses. These policies can also cover personal accident losses caused by a kidnap or hijacking.

Crisis Management Response When You Need It Most

Kidnap and ransom insurance provides coverage for financial loss as a result of a kidnapping, extortion, or abduction. It covers such things as ransom reimbursement, business interruption costs, post trauma counseling and rehabilitation, emergency evacuation, public relations consultants, legal and interpreter fees, accidental death, dismemberment and more

Political corruption, instability, and collapse of economic conditions remain the primary factors to rising kidnapping incidents worldwide. Countries traditionally considered minimal risk for kidnappings are showing increases in related crimes. And as kidnappings and extortion schemes remain a major problem for many regions of the world, kidnap and ransom insurance is a necessity rather and not just an option for individuals and businesses operating in these high-risk areas.

Latin America continues to be a hot bed for such threats with Mexico, Venezuela, and Colombia reporting the highest instances of kidnappings. Local residents have become prime targets for these criminal elements looking for a quick payday. A kidnap and ransom policy delivers the security of knowing you have a team of crisis professionals behind you to ensure the best possible outcome for you and your family.

Crisis management is the heart of any kidnap and ransom policy. Crisis professionals are specialized in crisis negotiation and have an in-depth understanding of how these criminal enterprises work. We work with only the most experienced leaders in crisis management insurance to offer first class coverage that is backed by the most experienced crisis firms in the world

Please contact us for more information regarding kidnap and ransom insurance.

Who is Eligible for Coverage

Traditional Kidnap & Ransom Insurance was geared more towards the multinational corporations or the high net worth individual but with the threat of terrorism today, the global environment has changed drastically with many more organizations planning for this kind of risk. Coverage is available to virtually any type of company, organization, or individual operating in or traveling to high risk areas of the world.

Corporate Sector

Buying Covarage offers kidnap and ransom insurance for organizations of all sizes, and especially those multinational organizations with offices spread out geographically across multiple countries. Kidnap and ransom insurance works proactively to protect companies from both domestic and international exposure. The following are some examples of the covered risks companies are exposed to:

  • Kidnappings
  • Extortion
  • Hostage situations
  • Child abductions
  • Disappearances
  • Hijacks
  • Individuals or organizations who have been declared persona non-grata
  • Security related evacuations
  • Unlawful incarcerations by foreign governments