The Contingency team at Lockton provides a specialist, bespoke service in the insurance of kidnap, ransom and extortion.
We are able to provide cover for individuals, families and corporations who feel they are at risk. Our experienced team is able to advise you on the insurance and consultancy options available and provide the product best suited to your own situation.
We have access to all the major insurers for this class of business, two of whom grant us facilities under which we can cede risks for sums insured up to US$50 million any one event. The product offering under these facilities enjoy the exclusive services of highly regarded crisis response consulting companies, a very important feature of the policy when considering this cover. Coverage given is usually worldwide.
Kidnapping for ransom and extortion are, historically well-known problems in Latin American and African countries.
In the past 10 years, the crime has increased throughout the world. Statistics show that kidnap for ransom and extortion are still growing and both companies and families are being affected globally.
Kidnapper’s traditional targets are either:
- Wealthy local individuals
- Professional sports/football players
- Expatriates working in hostile areas
- Business travellers
- Employees of high profile corporations.
And by association, the families of the above become the victims of threats of kidnap, detention and extortion Lockton’s K&R Team are able to provide solutions for all of these issues.
Are you a target?
From a kidnapper’s perspective, wealth is indicated by anything from knowledge of your background, your family or corporate name, your business interests, or simply by your physical appearance.
Other indications could be what you are wearing – your club track-suit to expensive designer clothes – the car you drive, where you live, how you speak and conduct yourself or your political connections. and sadly, it is sometimes just a case of “being in the wrong place at the wrong time”.
In most cases, kidnappers are motivated purely for financial reasons.
Abductions are often carried out by terrorists to fund political campaigns, or by criminals who are merely interested in extracting the maximum amount of money for their own financial gain.
In other cases, the motivation is purely personal.
It is therefore imperative to be fully covered and have the right expert protection/crisis management consultants behind you when dealing with these kidnappers.