Specialty Insurance

Kidnap / Ransom and Extortion Insurance

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.
  • 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 incurred 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.
 

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