The victims of kidnapping can be chosen through specific targeting due to their wealth, public profile or for whom they work, or just being in the wrong place at the wrong time. The increase in availability of information around individuals on the internet has made targeting individuals and corporates and their families much easier for kidnappers.
Extortion is also increasing globally, mainly affecting corporations. With advances in technology, these can be relatively easy crimes to commit and the consequences can have a significant long term financial impact that consume huge amounts of management time.
A kidnap, ransom and extortion policy is designed to provide both financial reimbursement and support following a kidnap, extortion, detention or hijack. The benefits of such a policy usually include:
- Reimbursement of ransom payments and any interest payments on loans required to raise liquid funds to pay the ransom.
- The costs of replacing a ransom lost whilst in transit.
- Other costs and expenses occurring during and after an incident including: medical and psychiatric costs, legal costs, temporary security measures,personal financial losses, rest and rehabilitation expenses, salary payments and travel expenses.
- Legal liability (under corporate policies only).
- Personal accident benefits.
- Unlimited costs and expenses of specialist response consultants to assist with the handling of the incident.
- A number of policy extensions for corporates, covering threat assessment, loss of earnings and political evacuation (Our network is able to advise on the suitability of these on a case by case basis)