Kidnap & Ransom –
insurance coverage for kidnapping
and extortion risks

Companies that are active worldwide and companies that are particularly in the eye of the public are often exposed to a variety of risks no one can control or avoid completely. Especially in politically unstable countries, the risk of violence, kidnapping or extortion is very high. Even in Germany and Europe, however, the number of extortions has drastically risen in recent years. The target group of such criminal attacks is quite diverse.

Kidnap & Ransom policies exist for these very risks. Our product Global Protect covers all the costs associated with kidnappings or extortion and uniquely includes the full costs of preventive training.

Policies include first and foremost ransom payments, the loss of ransom in transit, services of a crisis manager, travel expenses and other costs kidnapped individuals and their companies have to face during such incidents. Other costs specifically include: legal costs; continued pay of salaries; costs of business interruption; reintegration costs as well as accrued interest for loans; and bank charges incurred whilst obtaining the ransom.

Kidnap is not the sole trigger of these policies – notable events covered additionally are extortion, false imprisonment and hijacking. Even very specific events such as express kidnapping and cyber extortion are covered under our extensive wording. Further extensions, such as threat expenses, disappearance, evacuation and business interruption costs can be included according to a company’s specific risk exposure.

Emphasis is placed on the preventive crisis management for any risk that we assure. This principle enshrined in a regulation released by the German Financial Authority BaFin and obligatory for any German policies has become the defining principle for all our policies. We want the client to be prepared and to profit from our expertise before an insured incident actually occurs.

Preventive training is hence neither a promotional event for our consultants nor an annoying obligatory visit but a real additional benefit. The implementation of alarm chains and a well-prepared crisis unit guarantees that the company will remain the master of the situation in case of emergency.