Companies recognize the need to be a part of the global marketplace, and corporate
employees conducting business outside their own countries expect to encounter language
barriers, exotic customs, and diverse negotiating styles. What they cannot predict
is political upheaval and the increasing danger of abduction and extortion. The
goal of our entire program is the safe return of the hostage or the satisfactory
resolution of a crisis—a goal from which we do not deviate. Professional assistance
before, during, and after a kidnapping or extortion threat is a vital element of
corporate risk management.
Kidnap/Ransom Coverage responds whether a person is actually abducted or someone
paid a ransom, thinking a person had been taken.
Features that make the HDFC ERGO policy unique include:
- Kidnap/Ransom Coverage: Kidnap/Ransom Coverage responds whether
a person is actually abducted or someone paid a ransom, thinking a person had been
taken.
- Extortion Coverage: HDFC ERGO automatically includes protection
for threats to:
- Damage to any premises or tangible property located on the insured’s premises.
- Contaminate raw materials or products of the client.
- Disseminate, divulge, or utilize proprietary information of the insured.
- Introduce a computer virus against an insured.
- Delivery Coverage: Insures money or other conveyed property used
to pay a ransom or extortion demand.
- Additional Expenses: We extend coverage for additional expenses
and legal costs accrued to gain the release of a hostage. Those expenses may include
fees of independent negotiators, interest costs on loans taken for extortion or
ransom payment, salary continuation, consequential personal financial loss, and
reasonable medical expenses.
- Legal Liability Coverage: Protection in the event it is alleged
the insured was negligent in a hostage retrieval.
- Political Threat Coverage: Coverage for expenses when a person
is wrongfully detained by anyone acting for a government or with the government’s
approval.
- Optional Threat Response Expense Coverage: Payment for expenses
incurred when the insured utilizes the additional services to investigate extortion
threats when no monetary ransom demand has been made.