Kidnap/Ransom and Extortion insurance provides numerous benefits and services to the applicant and the insured. Kidnap/Ransom & Extortion Insurance provides coverage for kidnappings and other events through a combination of financial indemnification and expert crisis management.

A basic policy can cover items such as ransom payment, loss of income, interest on bank loans, and medical/psychiatric care. Besides insurance, companies can also utilize crisis management teams and employee training in what to do in a hostage situation to minimize losses due to kidnap or ransom.

The Kidnap/Ransom and Extortion insurance covers named employees for individual or aggregate amounts, with deductibles requiring the insured to participate in about 10% of any loss.

Kidnap Extortion and Detention are real dangers for companies operating both overseas and in domestic markets. They are often overlooked by management on the grounds that “it won't ever happen to us”, but the damage this can inflict on a business can be very severe - as the annual roll call of corporate and individual victims around the world testifies.

With over 1,000 annual kidnappings of professionals and executives world wide and numerous terrorists attacks, life and health insurance professionals should consider such policies for anyone who travels internationally.

Those persons who are perceived to be wealthy need Kidnap and Ransom Insurance. Not everyone generally needs it. A kidnappers’ perception of victim’s liquid assets may have little to do with the real value of the victim’s assets.

For people who travel frequently to high-risk regions such as Colombia and Peru, this coverage could be a life saver.

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.

• Broad coverage for extortion threats against the company’s merchandise, property, proprietary information, computer systems or its employees
• Broad expense coverage for hijackings, wrongful detentions or political threats
• Reimbursement for ransom or extortion payments
• Broad expense coverage such as:
• Access to a public relations firm Medical, cosmetic, psychiatric, and dental services
• Rest and rehabilitation costs
• Reward payments to informants
• Salaries of employees and temporary replacement employees
• Accidental death or dismemberment coverage
• Optional emergency political repatriation expense coverage
• Access to the crisis management

Actual coverage is subject to the language of the policies as issued.