Kidnap and Randsom Insurance
As you and your organization make plans to relocate overseas, it is important to become familiar with the unique risks associated with living and working abroad. One risk, which is easily overlooked, is the chance that you or a staff member could be kidnapped during your stay. It is estimated that over the past six years, kidnappings around the world have increased by 100%.
Ransom demands can be overwhelming with more than 14 countries recording cases of $25,000,000 or more in recent years. While kidnappers usually settle for between 10 and 20 percent of the demand, in certain territories they refuse to negotiate and use excessive violence to achieve their aims.
Most kidnappings are carried out in order to obtain a ransom, and in most cases, a ransom is paid. Rescues are rare, largely because the authorities in most countries recognize that the safety of the victim is paramount. Kidnappings can occur anywhere.
Clements Worldwide understands the unique challenges expatriates face when living abroad. Our Kidnap & Ransom coverage offers confidential protection should the need arise. This insurance will provide assistance to the family and employer, including independent investigations, negotiations, arrangement and delivery of funds, and numerous other services vital to a safe, speedy and satisfactory resolution.
Our typical policy covers:
- Ransom paid following a kidnap or threat to kill, injure or abduct
- Wrongful detention
- Death or dismemberment
- Legal liability
- Crisis management team expenses
- Fees and expenses of an independent negotiator/public relations consultant