During kidnap-for-ransom instances, the average ransom demand is $1.15 million and the average settlement is $355,000. Coverage for these situations has become as crucial as ever with the threat of kidnapping and extortion dramatically increasing, not only abroad, but also at home.
Types of incidents include: traditional kidnap-for-ransom or extortions; detentions; evacuations; missing persons; and threats to people, property or business information. Whether it is families on vacation, companies with employees traveling or based overseas, or even a domestic threat, these emotional, financial and devastating threats are all too real.
Kidnap and Ransom policies have the potential to save a life and subsequently prevent further financial or emotional trauma to a family and employer.
Coverage Details and Features
- Reimbursement for money paid for extortion or ransom
- Money for rewards provided for information leading to arrest or conviction of perpetrators
- Medical, cosmetic, psychiatric, or dental expenses following insured person’s release
- Expenses related to rest and rehabilitation
- Coverage for accidental death or dismemberment
- Coverage for financial loss as a result of being unable to attend to financial responsibilities
- Reimbursement of lost salary for both the victim and family member unable to work while handling the crisis
- Customized limits tailored to meet the needs of each company and family
- Reasonable and necessary costs of a threat assessment and the temporary protection of the threatened insured, insured person or property
- Disappearance and Investigation
- Legal fees, fees and expenses of independent public relations consultants, interpreters and independent forensic analysts
- Includes hijacking and express kidnapping
- Extortion, bodily injury, detention
- Property damage including pollution/contamination, trade secrets and computer virus
- Can include expenses for Workplace Violence
- Policy periods up to 36 months
- 24‐hour crisis hotline
- Worldwide coverage
- Coverage can be secured on a short‐term basis for individual trips or for an entire organization, including relative and guests or insured persons
- Most submissions are quoted within 24 hours
- Indications available based on preliminary underwriting data
- No minimum premium requirements, no deductibles required
- Immediate access to the crisis response firm’s consulting services across a variety of topics relating to security and executive protection.
(including but not limited to)
- Religious institutions/organizations
- Educational facilities
- Financial institutions
- Medical institutions
- Mining corporations
Ask an Expert
At Burns & Wilcox our expertise becomes your expertise. Our marketing materials are designed to help you give your clients what they want to hear – yes to almost any hard-to-place-risk.
Kidnap and Ransom: Applications
Please choose the application that best fits your needs.
- Individual/Family Contingency Insurance Proposal Form
- Questionnaire for Kidnap Ransom Extortion Coverage (Corporate)
- Questionnaire for Kidnap Ransom Extortion Coverage (Individual)
If you need additional assistance please contact your local office.Office Locations