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Compare Kidnap and Ransom Insurance Policies
Frequently Asked Questions(click to expand)
What Is Kidnap And Ransom Insurance?
Kidnap and Ransom insurance not only covers these extreme types of risk but can also provide risk management services to companies aiding them to face their legal duty in exercising reasonable care in providing a safe workplace.
Who Is Kidnap And Ransom Insurance For?
- Large businesses and organizations: companies of high value, have international offices or have business travel arrangements for employees are susceptible to threats of kidnap, bribery or violence
- Academic institutions: schools and universities, including those with study abroad programs, may face certain security threats including the destruction of buildings or on-campus violence
- High profile individuals: celebrities, actors, musicians, sports stars and politicians face security risks suck as threats of kidnapping, assaults, disappearances and bribery to them as well as their families
- Healthcare organizations: hospitals and clinics are likely targets for sabotage and child abduction
- Travel operators: bus stations, train stations and airports can face risks of kidnapped passengers and staff or hostage situations
- Places of worship: religious leaders and groups could face threats and assault when travelling or attending religious buildings
What Does Kidnap And Ransom Insurance Cover?
Kidnap and Random insurance can be quite expansive as there are many ways in which someone may commit an act of violence or corruption. Some of the extreme situations covered by Kidnap and Ransom insurance include:
- threats to kill or injure
- kidnaps for ransom
- ransom monies
- child abductions
- hostage situations
- unlawful incarcerations by foreign governments
- security related evacuations
- disappearance of insured persons
- individuals or organizations declared persona non grata
- accidental death and dismemberment (AD&D)
- judgments and legal liabilities
- additional expenses for medical care, relocations, etc
What Is Not Included In Kidnap And Ransom Insurance?
- dishonest or illegal acts by insured
- surrender of property inside the premises unless first brought inside after receipt of the ransom demand
- surrender of property outside the premises as a result of a threat to do bodily harm to a person in possession of property
Are There Problems With Kidnap And Ransom Insurance?
How Much Does Kidnap And Ransom Insurance Cost?
Things to consider when insurance companies assess the value of an organization or individual include the value of business assets, personal wealth, recovery costs and any potential medical or reparation costs.