This insurance mitigates the risk of kidnapping for businesses, international organisations and individuals. It is especially advisable in emerging countries or regions like South America and Africa where kidnapping is more frequent, but actually some parts of the world which are normally safer can be the very place where the claim occurs.
- What does K&R insurance cover?
The insurance policy includes:
– Kidnapping in aircrafts (hijack) or other means of transportation as well as express kidnapping
– Illegal detention
– Extortion, asking for ransom – this concept also protects against the risk of bodily injuries and material damage, not only in the strict sense, but sometimes also covering the risk of:
– Emergency security repatriation
– Possible introduction of a computer virus (a cyber insurance risk)
– Disclosure of trade secrets
The structure of the kidnap and ransom policy usually consists of the basic cover and one or more of the following additional ones:
Additional / Optional Coverage
The more specialized underwriters we work with in this field usually provide, as part of their coverage and service, access to crisis management companies which advise and support in technical security issues during the incident.
Reimbursement of payments made as ransom.
Legal advice, liability, and expenses.
Multiple types of expenses covered including rewards, independent negotiators’ fees, public relations consultants, forensic analysis, security agents, interpreters, travel and accommodation costs, several medical expenses, rest, rehabilitation, salaries of the detained person, family members, etc.
Accrued interest on any loan in order to pay an accident covered by the insurance policy.
Cost of product recall and/or product value.
Loss of profits (also in case of a computer virus infection).
Child kidnapping (special products for universities, schools or hospitals).
Threat and extortion response.
Investigation costs, security advice.
Relocation and/or repatriation cover.
International coverage.
Ask us about any additional need you may have.
GROUP KIDNAP INSURANCE AND EXPATRIATES K&R INSURANCE
For the staff of a company abroad, maybe including Expatriates , we can offer special policies with a global and integral protection to the group even in complicated destinations from a political risk point of view .
Special Trade Credit Insurance covering the risk of non payment , maybe combined with Pre-Shipment risk and / or Unfair Calling of Bonds . Usually for exporters and contractors in infrastructure or other international projects .
KIDNAP INSURANCE FOR SCHOOLS , UNIVERSITIES , NGO S AND RELIGIOUS ORGANIZATIONS
They offer an insurance protection against the Kidnap Risk for students , teachers workers of Non- Governmental Organizations or Religious institutions in their daily activities , sometimes in a difficult political environment in their destination countries .
KIDNAP INSURANCE FOR FREELANCE , NEWS OR FILM PRODUCTIONS
Insurance policies covering the Kidnap risk for these professionals and film or TV News productions .