Kidnap, Ransom & Extortion Insurance

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

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.

This will protect your company in the event it’s deemed to be negligent in hostage retrieval.