Kidnap and Ransom Insurance

Pulse Insurance can provide Kidnap and Ransom insurance to complement our Group Travel, Personal Accident and Illness products.

With businesses operating globally, more employees than ever are travelling as a part of their occupational duties. Whether it’s attending meetings in Europe, visiting factories in the Middle East or looking for opportunities in emerging markets, this adds a new challenge for employers looking to discharge their duty of care towards employees and brokers looking to fully cover their client’s liabilities.

Many people consider kidnap to be an unlikely risk unless you are travelling somewhere particularly dangerous. However, in the first two months of 2021 there were 282 incidents of kidnapping worldwide and whilst it is mostly concentrated in areas where you could expect a heightened risk, such as Africa and the Americas, 11% of all incidents occurred in Europe and Asia.

Therefore, it is important to obtain a comprehensive Crisis Response cover, which in partnership with our Protect+ Business Travel insurance will provide the ultimate protections for corporate travellers anywhere in the world. Crisis Response cover is no longer a ‘nice to have’ but is a crucial component of protecting your employees overseas.

Purchasing Kidnap and Ransom insurance allows companies the peace of mind to know that, should the worst happen, they will have the support of our crisis management partners.  They have a track record of over 800 resolved international cases and a wealth of experience in negotiation, situation management, analytical support and crisis recovery.

Therefore, it is important to obtain a comprehensive Crisis Response cover, which in partnership with our Protect+ Business Travel insurance will provide the ultimate protections for corporate travellers anywhere in the world. Crisis Response cover is no longer a ‘nice to have’ but is a crucial component of protecting your employees overseas.

What is covered by our Crisis Response product?

Ransom sums insured dependent on company assets but can be anything up to $50m, this includes cover for the ransom that has been surrendered and loss of ransom in transit.

Consultants Costs a key element of reaching a positive outcome in the event of a kidnapping is to have the best advisors with experience in negotiating and contacts in various countries around the world who can assist with extricating the victim. They can also assist with managing the PR implications of the situation.

Legal Liability where an insured persons brings a lawsuit against the Assured following kidnap, detention or hostage crisis.

Personal Accident cover for death or disablement as a result of a kidnapping, detention or extortion.

Additional Expenses including negotiator fees; PR consultants; interpreters; additional travel and accommodation costs; loss of salary for the victim and an employee who leaves their employment in order to assist in the negotiations for the release of the victim; costs of borrowing on loans raised to meet the ransom; temporary security measures; childcare costs and Key Person expenses.

There are also optional add-ons available such as Express Kidnap, Emergency Political Repatriation, Child Abduction and Workplace Violence and Assault.

We can also provide coverage for high-net-worth individuals and their families, these are often taken out when the whole family is living on location in a country or region with a heightened kidnap risk, or for example when a child of a high-net-worth individual goes on a gap year trip.

At Pulse we have experience in underwriting Kidnap & Ransom and Travel insurance covers for a variety of industries in several different regions, including:

  • A film crew interviewing cartel members or war lords in Colombia and Afghanistan.
  • A company executive and his family in South America.
  • A Christian charity operating worldwide.
  • A legal NGO working with the UK Foreign Office.
  • Celebrities and high net worth individuals.

Our capacity is provided by Travelers Syndicate 5000 who have been at the forefront of Kidnap & Ransom insurance for over 30 years. Through their response providers, Constellis, we look to provide specialist expertise in ensuring you get the right advice when incidents occur.

We can tailor policies to your client’s needs, including the sums insured a policy periods ranging from one day to up to three years.

For more information or to request a quote for your client please contact:

Ben Pailthorpe
Senior Underwriter
bpailthorpe@pulse-insurance.co.uk
07572-397849