Corporate Kidnap and Ransom/Extortion Insurance

 

Kidnap and extortion are a very real and growing threat in today’s world. As many as 12,500 kidnappings are reported each year in over 40 countries, mainly in Latin America, Russia and Asia, with the average ransom payment doubling in the last four years and some payment demands exceeding USD 50 million. Whilst the most vulnerable companies are those that have employees based or travelling overseas; companies that have high profiles, handle large amounts of cash or work with sensitive information or technologies can be attacked as well.

Kidnapping incidents in the Democratic Republic of Congo, Somalia, Nigeria, Rwanda, Ethiopia and Kenya and South Africa show that expatriates of international companies, personnel of international aid organisations and locals are equally exposed to the danger of being abducted or extorted.

Corporate Kidnap and Ransom/Extortion Insurance not only protects against financial loss but also provides the services of Clayton Consultants Inc, leading crisis management and security consultants, to manage incidents on the policyholder’s behalf.

Comprehensive insurance includes the following:

Kidnap / Alleged Kidnap:

A seizure or detention of an insured person for the purpose of demanding ransom monies.

Extortion:

Payment demands following a threat to injure, or kill an Insured Person; damage property; contaminate products; divulge trade secrets; or destroy electronic data by computer virus.

Wrongful Detention:

Involuntary confinement by a government entity or insurgent organisation.

Cover Includes:

  • Death or dismemberment benefits arising from a covered incident
  • Ransom / extortion payment
  • Loss in-transit of payment
  • Judgement, settlements and defence costs
  • Recall costs
  • Business interruption
  • 24 hour emergency response help line
  • Any other reasonable & necessary expenses.

Cover Options:

  • Evacuation and repatriation
  • Child abduction

Complete the form below for a quote or call 086 111 2778

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