Captum Kidnap and Ransom

 

The incidence of terrorism and transnational crime has increased dramatically in the past decade. No longer entirely political in purpose, some terrorists are primarily concerned with financial gain.
 

Corporate executives, business owners, and celebrities traveling around the globe for business or pleasure are potentially at risk to be kidnapped for ransom. Kidnappings of the affluent are on the rise worldwide, as many radical groups and criminal organizations perform these dreadful acts for profit.  Kidnap and Ransom insurance provides coverage to help mitigate this risk and works with the world’s leading crisis management response groups to help provide a safe and peaceful solution to a frightful experience.


This new phenomenon not only broadens the base of incident probability in respect of kidnapping and extortion, but it creates unique needs for coverage that had previously been unavailable or prohibitively costly. Kidnap and extortion are not just economic crimes. The costs to businesses, large or small, are substantial. The impact on the employees and their families who are directly victimized can be even more severe.

 

The repercussions of such insured events are many, affecting not only the victim, but also their families, employers and colleagues. It is a delicate balancing act trying to secure the release of a victim, while coping with the loss of a loved one or a key employee.

 

Consequently, adequate protection against these events in the form of insurance through Lloyd’s, the world’s leading special risk insurer, and access to specialist crisis management support is essential and should be an integral part of every insured’s crisis management plan.

All benefits shown are per an insured event unless otherwise indicated. This is a reimbursement plan. Security Exchange must be notified as soon as an insured event has occurred or is believed to have occurred.

Ransom$1,000,000

This is cash and/or marketable goods, property, monetary instruments, securities, or services surrendered to meet a kidnap, extortion, or hijack demand. We pay the actual cash value at the time of surrender.

Ransom in Transit$1,000,000

We cover the loss of ransom by confiscation, destruction, disappearance, seizure, actual damage, wrongful abstraction, or theft while it is being conveyed by an authorized person to those who demanded it.

Security Exchange Consultant Fees and Expenses Unlimited

This covers Security Exchange's fees and expenses (or other independent security consultants retained by you) for an insured event. You must obtain prior consent from Security Exchange before using independent security consultants.

Threat Event$25,000

We provide unlimited coverage for Security Exchange's fees and expenses as well as additional expenses for up to $250,000. This benefit is provided for 30 consecutive days.

Disappearance$50,000

We provide unlimited coverage for Security Exchange's fees and expenses, as well as additional expenses up to $50,000. This benefit is provided for 30 consecutive days.

Legal Costs$1,000,000

This covers legal costs for defending a claim1 first made against you while you are covered by this plan, if the legal costs relate directly to your legal liability to a covered person for an insured event. 

Legal costs include: 1) damages you are legally required to pay as compensation to a covered person as a result of a judgment, arbitration award, or settlement concluded with prior approval from us and 2) legal expenses incurred by you to defend a claim, if we provided prior approval.

Personal Accident$250,000 per covered person
$1,250,000 per insured event
   Benefits per Covered Person          percentage of capital sum
   Death                                                    100%
   Loss of limb/sight/speech                          100%
   Permanent total disablement                      100%
   Loss of extremity                                      50%

The benefits listed above are provided if they are solely and directly related to an insured event if the loss occurs within 12 months from the date of the incident. This coverage is extended to cover bodyguards and vehicle operators employed by you during an insured event. (Separate limits apply. See your plan document for details.)

Coverage Extension

   Emergency Repatriation & Relocation$25,000 per insured event
   Consultant Fees & Expenses                        Unlimited

We pay for:

1.       travel and accommodations related to an emergency repatriation and/or relocation;

2.       personal effects left behind and lost by you;

3.       Security Exchange's fees and expenses.

1A claim is a legal proceeding against you which alleges you performed a wrongful act, a breach of a legal obligation you owed to a covered person which causes an insured event to occur.

Additional Expenses$1,000,000

These include:

·         an independent negotiator’s fees and expenses (requires our prior authorization);

·         fees and expenses of an independent public relations consultant and/or interpreter and/or spokesperson;

·         your reasonable travel accommodation expenses;

·         fees for psychiatric, medical, and dental care and confinement expenses and/or legal advice incurred prior to and within 36 months of the release of the covered person;

·         a reward you paid to an informant for information which contributes to the resolution of the insured event;

·         100% of your gross salary while you are kidnapped, detained, or hijacked and for 60 days following your release (12 consecutive months for detention);

·         100% of the gross salary of a relative who gives up their job to assist in negotiations when you are kidnapped, detained, or hijacked and for 60 days following your release (12 consecutive months for detention);

·         interest on loans raised to pay for an insured loss;

·         costs, fees, and expenses for reasonable temporary security to protect you and/or your property in the country where the insured event occurred;

·         cost of communication, communication equipment, recording equipment, and advertising due to an insured event;

·         reasonable fees and expenses of an independent forensic analyst engaged by you;

·         reasonable rest and rehabilitation expenses for you, your spouse/partner and/or parents and/or children within 12 months following your release if you are kidnapped, detained, or hijacked;

·         the cost of cosmetic or plastic surgery to correct any permanent disfigurement solely and directly related to the insured event;

·         personal financial loss;

·         reasonable and customary expenses paid by you for landing and takeoff fees, refueling charges and other expenses to transport occupants of a hijacked conveyance to their final destination (for hijack only);

·         the cost of repatriating your body if you die during an insured event;

·         the cost of child care related to an insured event;

·         expenses to search for explosives or harmful material on your premises;

·         the cost of electronic sweeps for bugs or other electronic listening devices on your premises;

·         expenses incurred for ransom delivery;

·         all other reasonable expenses incurred by you with our prior approval.