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Kidnap, ransom & extortion policy
Chubb Specialty Insurance
Our kidnap policy is distinctive in the market and is designed to provide maximum financial and security protection in the
event of a kidnapping or other extortion loss. Our broad definitions ensure your company, your employees and their family
members are covered.
Key features of our comprehensive kidnap cover are:
Kidnap and ransom cover
You are covered whether a person is actually abducted or a ransom was paid in the belief that a person had been taken.
In addition to covering the cost of the ransom payment, Chubb’s policy also covers the interest costs for a loan taken to
pay the ransom or extortion payment.
Covers threats to:
- Do bodily harm to an employee as well as his/her family which are politically motivated
- Cause damage to any premises or tangible property located on the company’s premises
- Contaminate the products manufactured or distributed by the company
- Disseminate, divulge or utilise the company’s proprietary information
- Introduce a computer virus against the company
Lost ransom cover
Covers money or other conveyed property used to pay a ransom or extortion demand.
Our aim at all times is the safe return of a kidnap victim. We extend cover for expenses and legal costs incurred to achieve
the release of a hostage. These may include independent negotiators’ fees, interest on loans taken out for a ransom payment,
salary continuation, consequential personal financial loss and reasonable medical expenses.
Chubb can provide security consultants from one of the world’s pre-eminent security firms, The Ackerman Group, to assist in
negotiating an employee’s safe return. While it is not mandatory to use a specific firm, early involvement of an experienced
security consultant can often mean the quick return of a victim at a reasonable cost.
Legal liability cover
This will protect your company in the event it is deemed to be negligent in hostage retrieval.
Optional threat response expense cover
This allows you to cover the expenses incurred when you use the services of The Ackerman Group to investigate extortion threats
when no monetary ransom demand has been made.