Ransom, Kidnap & Extortion
Whether your company is a financial institution, a multi-national company with operations in high-risk areas, a local company with high-profile executives, a healthcare provider or company dealing with confidential information, Kidnap/Ransom insurance should be considered.
Insurance coverage is available from several top insurers to address the costs associated with a kidnap, extortion or detention event. As important as insurance coverage is having a crisis consulting firm to help with local authorities, guide decision-making and aide in rehabilitation efforts after an event. Each insurer makes this service available as part of the coverage through outside consultants.
Basic insurance coverage includes:
- Kidnap/Ransom: insurance protection for ransoms paid during an actual or alleged kidnapping of a insured person, relative or guest.
- Extortion for Bodily Injury or Property Damage: reimbursement for ransoms paid following the receipt of a threat to harm a person or cause physical damage to an insured’s property.
- Detention: coverage for the salary of an insured person, relative or guest who is the victim of a detention
- Crisis Consultant Costs: covers the costs of consultants involved in handling the crises
Insurance can also include coverage for Accidental Death & Dismemberment, Emergency Repatriation and Relocation, Business Interruption and Infant Abduction.
Annual and multi-year terms are available for this insurance coverage. The Executive Liability Practice at HUB International Insurance Services would like the opportunity to assist you with the consideration of this insurance coverage.