Kidnap and Ransom insurance plans provide
assistance to the family and business with regard to independent
investigations, negotiations, arrangement and delivery of
funds, and numerous other services vital to a safe, speedy
and satisfactory resolution.
Extortionists don’t discriminate. Any company of any
size can be a target for extortion threats against the company
and its employees. People tend to associate business extortion
and kidnapping with global companies. The fact is, radical
groups and criminals exist everywhere.
Kidnap/Ransom and Extortion Insurance will help you manage
the costs associated with an extortion threat against your
products, proprietary information, computer system or your
people can be enough to push a small to medium-sized company
to its financial limits.
These risks may not feel like everyday exposures, but too
often they are. And when they happen, you may need financial
assistance to meet extortion demands and the extensive costs
associated with negotiation and recovery.
Due to globalization of economies, multinational companies
need to prepare for the possibility of attacks on their employees
and facilities virtually anywhere in the world.
Kidnap/Ransom and Extortion Insurance will help you negotiate
with kidnappers. A person may have a net worth of one billion
dollars. If the money is all in real estate except for $100,000
cash, in the absence of insurance, what would a family do?
Raising the $1 million would necessitate selling property,
which could take months.
Resolving an abduction once one has occurred requires the
assistance of specially trained experts, and thus risk managers
might look into the use of Kidnap/Extortion and Ransom insurance.
A Kidnap/Extortion and Ransom policy is not simply a funding
mechanism, but also includes a range of services, including
security consultants and other specialists. Security consultants
due to their expertise are the most essential component of
the kidnap insurance policy. The consultant companies generally
include kidnapping experts and professionals with extensive
knowledge of the relevant issues, family counseling and the
country where the kidnap took place. Because they are familiar
with the local laws and the dynamics of kidnapping, they are
able to act swiftly to mobilize international resources to
solve the case.
Corporations that don’t want to assume all the financial
risk carry Kidnap/Ransom and Extortion Insurance, even if
raising money to meet a ransom demand does not pose much difficulty.
Wealthy individuals and corporations think it more practical
to carry Kidnap/Ransom and Extortion Insurance and pay a known
premium, rather than assume all the financial risk.
Both personnel and corporate assets are exposed to loss when
kidnappers attempt to extort ransom money for the safe return
of kidnap victims. Insurance can be purchased to cover individuals
or corporations for this risk insured as well as losses from
extortion threats against property or product contamination.
An industry leader in kidnap/ransom and extortion insurance,
InsureCast and Chubb Executive Risk has designed comprehensive
insurance coverage to provide the maximum financial protection
available in the event a corporation suffers a kidnapping
or extortion crisis. Please go to our online CoverageCoach
questionnaire to get a free no obligation Kidnap/Ransom and
Extortion insurance quote.