Kidnap, Ransom & Extortion Insurance

The world is an increasingly dangerous place. At home and abroad larger groups of individuals are becoming targets of kidnap, furthermore, the number of countries presenting extreme risks of kidnap has been on the rise. Broadly speaking, the targets of kidnap have been affluent families and company executives. However; nowadays, larger segments of the population, including middle class families, are at risk, specially if travel is involved. You can protect your employees and/or family members with Kidnap, ransom and extortion insurance.

Criminals see kidnapping and extortion as a quick way to make money. Kidnap is the abduction (taking) of an individual against their will with the intent of obtaining a ransom payment. Extortion involves actions by criminals to obtain money or something of value by using force or threats. Kidnap, ransom and extortion insurance is available to cover individuals and businesses against the risk of kidnap and extortion. Said policy will reimburse the individual and/or business for ransom and extortion payments as well as cover the expenses that arise from the kidnap or extortion event such as: hiring professionals, arranging the return of the kidnapped person after their release, etc.

As a business owner, you owe a duty of care to your employees thus you must ensure safe working conditions. In an increasingly globalized economy, your business may have to operate in regions known to be kidnapping hotspots. In such situations, the risk of kidnap may be difficult to mitigate. Purchasing kidnap, ransom and extortion insurance and having a plan in place should a crisis arise can demonstrate your company’s proclivity towards employee safety and can greatly increase the chances of a kidnapped person being returned unharmed. The policy provides coverage for:

• Kidnap/Ransom and Extortion – Direct Loss: the loss suffered because of covered ransom and extortion payments.
• Kidnap/Ransom and Extortion – Expenses Incurred: the expenses that arise because of covered kidnaped or extortion events.
• Detention or Hijack: the expenses incurred because of the detention or hijack of an insured person. Both scenarios involve the holding of a person under duress.
• In-Transit Delivery of Property: the loss of property used as payment to kidnappers and extortionists while the payment is being delivered.

The number one goal of kidnap, ransom and extortion insurance is to ensure the safe return of the individual when a kidnapping event occurs. With the purchase of kidnap, ransom and extortion insurance you gain access to a team of professionals specialized in crisis resolution who can make a difference in the outcome of a kidnap situation. The resources to respond to a crisis will be in place before an event occurs which greatly increases the probability of a positive outcome.

Risk Reinsurance Holdings, Inc. is your source for kidnap, ransom and extortion insurance. As an independent insurance agency, we represent many insurance companies which allows us to compare coverage alternatives on your behalf and select the most appropriate option to address your needs.

Try Risk Reinsurance Holdings today and leverage our expertise and market access to solve your insurance needs. You may follow the link hereunder to complete a questionnaire to get the quoting process underway.