Kidnapping insurance

Kidnapping and Ransom Insurance

Kidnapping and ransome insurance covers international companies, (multinational comanies, small buisness companies) activte in high risk areas when it is necessary to travel abroad. Whatever the range or size of the activity, any enterprise can be confronted with kidnapping and extorsion risks (inclusing threats to killing, blessing, kidnapping or threats to damaging r goods). It is essencial to anticipate such risks and protect your firm and your employees. Employers have the responsibility of their employees security. Insurance for Kidnapping and Ransom covers the firm and all its employees: expatriates, salaried business people on their professional trip, local salaried employees, sub-contractors, and family members. The protection covers reimbursement of the ransom, loss due to ransom, civil responsibility, consulting fees in a situation facing crisis and all other costs involved.

– Loss of production
– Indemnity for death or disability
– Evacuation and repatriation

Examples :

RAPT: kidnapping with a demand for ransom Circumstance

an expatriate of a French enterprise in Argentina is kidnapped in his car on his way to work and forced to take seat in the car of his agressors.

Management of the crisis
• The members of his family contact the emergency phone line made available by the insurance company
• The claims service of the insurance company confirms the guarantee and two on place consultants are assigned on the same day to the case
• Consultants will help the family in negotiating with the agreesors
Issue of the event :
• The victim is freed after paying the ransom of over USD 1 million
Expenses engendered
• Payment of the ransom
• Consulting fees
• Over USD 10’000 in additional expenses
Fake child kidnapping
Circumstance
Reporting of the kidnapping of an employee’s daughter working for a subsidiary of the employer in Mexico. The agressors have contacted the company and the family of the alledged victim demanding a ransom of USD 16K, together with a threat of murder.
Management of the crisis
– The president of the subsidiary has activated the emergency phone line of the insurance company
– Implementation of a consultant in Mexico City.
Issue of the event :
The daughter of the employee left home without her mobile phone (theft of her mobile phone).
There was no kidnapping.
Expenses engendered
Consulting fees of USD 35’000

Threat/Extorsion.

Circumstance
The firm is a multinational which receives a letter threating its headquarters and demanding a ransom of USD 2 M, failing to comply a bomb will explode at the headquarters and in several stores.
Management of the crisis
– The firm covered by the policy contacts its insurer
– The claims service confirms the guarantee and the transfer of a consultant to the headquarters of the firm on the same day
– The consultants furnish a complete estimate of the risks that may be incurred, the coordination with local police and FBI
Issue of the event :
The FBI arrests the autor of the letter who was a former unsatisfied employee, without causing any incident
Expenses engendered
– Involved USD 1’000’000 as a security measure in response to the thret including an external security agency with dogs for the detection of bombs
– USD 20’000 for travel expenses and accommodation
– USD 50’000 for public relations, communication with media
– USD 1’500’000 loss
Evacuation and Political Repatriation
Circumstance
– The insured company is an NGO present il all of the Middle East
– Following political instability the US authorities published a warning
Management of the crisis
– The firm covered by the policy contacts its insurer
– The claims department of the insurance company confirms that the guarantee is covred and provides the consultants responsible for the management of the crisis
– The objective is to repatriate 8 salaried employees
Issue of the event :
– Repatriate 8 salaried employees and their families
Expenses engendered
– Consulting fees for the repatriation committee
– USD 22’000 reimbursed to the NGO for the costs of evacuation

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