Kidnap and Ransom Cover
You’re 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.
This covers threats to:
- Do bodily harm to an employee as well as his/her family which is 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
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 isn’t 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’s deemed to be negligent in hostage retrieval.