Kidnap & Ransom Insurance
“Border Tensions- Executive Liability in an Age of Political Unrest”
“Effectiveness of Local [foreign country] Law Enforcement in Question”
“Express Kidnappings Pressure Insurance Rates”
“Special Forces Deployed to Rescue Hostages”
Headlines describing the increased danger of kidnapping, extortion, hijacking and unlawful detention around the world are becoming more and more common. There are an estimated 30,000 annual incidents that have led to a significant increase in Kidnap & Ransom Insurance policy claims. This type of insurance has been available from Petersen International Underwriters for over 25 years, and with the rise of K&R hazards in recent years, particularly in some places known as vacationing hotspots, the demand for this important coverage appears to be sought out more frequently, and rightfully so.
“Express Kidnappings” are becoming an extremely popular crime. Similar to a mugging, an express kidnapper will force a victim to ATMs or perhaps to the victim’s hotel room to steal their money and valuables. Reports say that these crimes are becoming increasingly brutal, and can have a deeper effect on the victim than just the loss of cash and possessions. Though traditional kidnappings with ransom demands made upon a third party are still a risk, Express Kidnappings have become a serious threat, and coverage for this type of crime is possible in certain cases using our Kidnap & Ransom Insurance plan.
Though corporate and personal security have improved dramatically, extortion crimes have seemingly adapted and are making news. Whether to attain corporate secrets, make political statements or for monetary gain, instances of extortion plots continue to rise, including cyber-threats from hackers. Kidnap & Ransom Insurance is a logical step toward mitigating these risks, and our plan may cover such perils.
The Petersen International Underwriters’ Kidnap & Ransom Plan can be placed with individuals and groups, such as corporations, missionaries, students, financial institutions and others to indemnify losses resulting from kidnapping, extortion, hijacking and unlawful detention. Benefits can be designed to equal personal or corporate net worth. One of the most beneficial aspects of the plan is the acquisition and unlimited funding of the Crisis Response Team. This team is exclusively retained by certain underwriters at Lloyd’s, and has worldwide knowledge and experience with experts strategically stationed within 4 hours of anywhere in the world.