KIDNAP AND RANSOM
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“Kidnap and extortion are very real and growing threats in today's world. While the most vulnerable companies to kidnapping are those that have employees based or travelling overseas, organizations that have high profiles, handle large amounts of cash, or work with sensitive information are also at risk”. Examples include: bodily injury extortion, property damage extortion, pollution extortion, cyber extortion and intellectual property extortion. Companies need to prepare for these threats that can originate or occur virtually anywhere in the world. The Kidnap, Ransom and Extortion Insurance not only protects against financial loss, but also provides the services of leading crisis management and security consultants to manage incidents in conjunction with the policyholder. Crew Insurance Services offers Kidnap & Ransom insurance through Global Underwriters.
COVERAGE: Kidnap/Alleged Kidnap – A seizure or detention of an Insured Person for the purpose of demanding ransom money. 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 insurgentorganization resulting from the arbitrary or capricious act of an agent of or with the tacit approval of said entity or organization. Hijacking – Illegal holding under duress of an Insured Person for more than six hours while travelling on any aircraft, motor vehicle or waterborne vessel.
Coverage Includes: - Death or dismemberment benefits arising from a covered incident - Any company with employees either travelling to or based overseas, particularly - Latin America, Asia, Eastern Europe and Africa - Cash rich or high profile companies operating domestically or in other countrie - Manufacturers or retailers of consumer goods
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