Kidnap for ransom is a real threat in many parts of the world, and global corporations have a duty to care for their local, traveling and expatriate staff. An organization dealing with an incident faces potential losses from ransom payments, business interruption, litigation, adverse publicity and long-term damage to its reputation.
Typical benefits provided by ransom insurance policies include:
- Ransom money
- Informant money
- Crisis management services
- Legal liabilities
- Rehabilitation
- Personal security consultation
- Negotiation services
- Family counseling
- Loss of ransom in transit
- Medical services and emergency evacuation
- Interpretive and forensic services
- Business security consultation
- Accidental death
- Reward money