Kidnap & Ransom Insurance

Travelling internationally or residing abroad for business may in the past have seemed more exotic and exciting than dangerous. Not so today. Caught between pressure generated by the current security environment and the increased focus on corporate responsibility, senior management must pay closer attention to the personal safety of its staff than ever before. The increasing and more high-profile problem of kidnap-for-ransom is forcing companies and individuals to be more proactive in trying to prevent an incident as well as ensuring they can react effectively should a kidnap or extortion occur. The risk of kidnap is greatest in parts of Latin America, Asia and the Middle East, but shifting regional volatility means that companies may find themselves in hostile situations in territories where they were previously safe.

Current threats impact employee well being, corporate liability and business continuity. It is essential for organisations with such exposures to assess these risks and take steps to mitigate them. If an incident does occur, your company must be ready to respond effectively to a crisis. While some companies have extensive security and risk management resources in-house, few security departments have handled sensitive and time-consuming kidnapping, extortion or political detention incidents. The financial and management implications of such incidents and possible subsequent litigation have made clear the need for expert preventative and incident management advice.

In the area of kidnap and extortion, most corporations chose to transfer both the financial risk as well as an element of due diligence through Kidnap and Ransom coverage. SCR is the industry leader in this arena and focuses solely on security related risks. We provide the expertise, attention to detail and resources that these high risk exposures require. We develop comprehensive packages of pre-incident risk management, financial protection and crisis response solutions that specifically address your exposures. As the only broker with an in-house, 24/7 security team, we ensure that your organisation has the necessary resources to enhance employee safety and protect your assets.

Your company could benefit from Kidnap, Extortion and Detention Coverage if you:

• Operate overseas
• Send executives, employees or representatives overseas on business
• Conduct business in high-risk territories, including Latin America, Africa, Asia and the Middle East
• Are involved in the aviation, oil, energy, construction, banking, telecommunications, utilities, mining or manufacturing industries
• Are involved in reconstruction projects in Iraq or Afghanistan

• Review existing programmes to close gaps in coverage and consolidate subsidiary policies if necessary
• Negotiate pricing and coverage enhancements to address specific threats
• Inform you on the changing security environment through an electronic monthly Kidnap Bulletin (requires Adobe Acrobat Reader )
• Monitor the changing capabilities of security firms retained by insurance carriers
• Match the most appropriate incident response firm to your specific regional operations
• Provide access to SCR’s Security Team for threat assessments, travel awareness seminars, executive protection training and site security surveys
• Secure premium credit for incident prevention consulting (may be applied to services available from SCR’s Security Team)