As companies expand globally and individuals travel more, exposures to several types of personal risk increase. Anyone travelling internationally may be a target for kidnappers and extortionists.
While no one can predict where or when a kidnapper or extortionist might strike, there are steps that can be taken to prepare for a possible threat. Kidnap & Ransom coverage can be a critical part of your risk management program.
The Kidnap & Ransom policy will provide coverage for the following:
- Ransom and extortion payments as a result of a kidnapping or extortion threat
- Loss of the ransom or extortion payment while being delivered
- Fees and expenses for independent negotiators, travel, and accommodation expenses
- Liability coverage protection in the event it is alleged the insured is negligent in hostage retrieval