Kidnap & Ransom

Kidnap and extortion are growing threats in today's world. While the most vulnerable companies are those that have employees based or traveling overseas, organizations that have high profiles, handle large amounts of cash, or work with sensitive information or technologies are equally at risk.

While rarely publicized, extortion against corporate assets or products is increasing rapidly. Examples include:

  • Bodily injury extortion 
  • Property damage extortion
  • Pollution extortion
  • Cyber extortion
  • Intellectual property extortion

Companies need to prepare for these threats as they can occur anywhere in the world.

Kidnap, Ransom and Extortion insurance protects against financial loss, and also provides the services of leading crisis management and security consultants to manage incidents in conjunction with the policyholder.

Businesses often overlook these risks to their personnel, and individuals tend to avoid considering such unpalatable threats. "It won't happen to me" is a dangerous viewpoint.

Coverage is tailored precisely to the needs of the individual or company, as is extensive guidance on prevention and response. Our goal is to ensure the best possible advice for clients and the highest caliber of help available when it matters most.

Customer Profile

  • Any company with employees either traveling to or based overseas, particularly Latin America, Asia, Eastern Europe and Africa.
  • Cash-flush or high profile companies operating domestically or in other countries.
  • Manufacturers or retailers of consumer goods.

Coverages

  • Kidnap/Alleged Kidnap - A seizure or detention of an insured person for the purpose of demanding ransom monies.
  • 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 - The arbitrary or capricious act of involuntary confinement of an insured person by others who are acting or purporting to act as agents of or with the tacit approval of any government or governmental entity.
  • Hijacking - Illegal holding under duress of an insured person for a period in excess of six hours while traveling on any aircraft, motor vehicle or waterborne vessel.

Includes

  • Death or dismemberment benefits arising from an insured event
  • Ransom/extortion monies
  • Lost in-transit of payment
  • 24-hour emergency response help line
  • Consultant expenses
  • Judgment, settlements and defense costs
  • Expenses such as:
    • Recall costs
    • Business interruption
    • Related expenses such as salary continuation, personal financial loss, medical reward, interpreter, forensic analysis, other reasonable and necessary expenses
  • Capacity $50mm

For new submissions, please contact us toll-free at 1-888-868-8367, or email casualty@tottengroup.com.