Kidnap and Ransom Insurance
Most kidnaps are carried out in order to obtain a ransom, and in most cases a ransom is paid. Rescues are rare, largely because the authorities in most countries recognize that the safety of the victim is paramount. The average percentage of deaths following a kidnap is 9%. In cases involving Control Risks, less than 2% of people are killed. Killing usually takes place at the time of abduction rather than during the negotiation.
Imagine the overwhelming feeling of relief and sheer joy that you would feel upon the release of a kidnap victim. Now imagine the subsequent stress that would follow the realization that you are not insured in case of a kidnapping or ransom request. Your company or family had to liquidate ALL assets to pay the large ransom, purchase specialized phone equipment, pay for travel expenses, hire security protection, hire a negotiator, and pay many more unforeseen costs. In addition, to rejoin society, the kidnap victim may need extensive psychiatric counseling and rehabilitation. This financial trouble could be avoided with Kidnap and Ransom Insurance coverage.
A Kidnap and Ransom Insurance policy owner can apply for coverage to protect against a financial loss caused by a kidnapping or extortion—coverage up to their personal or corporate net worth. If a claim is made, the Kidnap Insurance policy owner will be responsible for coming up with the initial money to provide the kidnappers. After the money has been paid, they can then submit a claim to be reimbursed for the expenses. This insurance even provide Ransom Insurance to cover lost ransom money, should the delivery go wrong. One of the most beneficial parts of the Kidnap and Ransom Insurance plan is the unlimited expenses for the Crisis Response Team. This Team has worldwide knowledge about negotiations in each specific location and is highly trained to deal with kidnappings, ransom requests, and extortion plots.
No one expects to have to recover—emotionally or financially—from the trauma of a kidnapping of a colleague or loved one. But should the situation arise, you will be relieved to know you are covered with Kidnap and Ransom Insurance.
Kidnap Insurance provides numerous benefits and services to the applicant and the insured. Most people believe that kidnap insurance is only a ransom benefit. Following is a common use of a Kidnap Insurance
- Ransom Reimbursement
- Personal Accident
- Loss of Ransom during delivery
- Private Negotiator
- Public Relations
- Travel Expenses
- Psychiatric Expenses
- Reward Payments
- Financial Losses
- Loss of Income
- Employee Lost Income
- Asset Protection
- Security Coverage
- Specialized Equipment
- Rehabilitation Benefit
- Funeral Expenses
- Child Care
How much does it cost?
To provide an indication of the cost of your coverage, we will need to know:
- Your name and location
- Your approximate net worth
- A brief description of your business activities
- The number of people you wish to insure and their location
- If there has been any previous threats, incidents or circumstances which may give rise to a claim
We can help you compare and choose the right Kidnap and Ransom policy or other special-risk coverage from several insurance companies products. Contact us for more information and a customized quote.
<Seven Corners Kidnap & Ransom Insurance Plan>
<Petersen International’s Kidnap & Ransom Insurance Plan>