Kidnap and Ransom


Kidnap and Ransom insurance has been around for many decades. Often when insurance professionals realize that there is an insurance product they can sell called Kidnap and Ransom coverage two things happen:

1) The image of spy and terrorism is conjured up in the mind, and
2) The thought that this is a product, which “obviously only heads of states and famous people buy, right?”

The truth is that small and medium size businesses, whose employees travel or reside internationally, purchase most kidnap-ransom policies.

Historically there is less of a concern in buying such coverage if a person lives and works in the United States. While it is true that the odds of a corporate kidnapping occurring in the United States are very low, it does happen! Outside of the USA, kidnapping for ransom occur more frequently and often may last months!

Being a high profile person is non-essential. In other parts of the world, a United States citizen makes a great target, no matter who he or she is!

What do you get for your premium?

Most people assume that the main reason you buy the coverage is for the ransom benefit. While that may be an important element, the real strength of a Kidnap policy is the response team, which is included in the coverage.

A response team’s job is to act as an advisor. They develop possible scenarios. They try to work with local law enforcement (however, in some parts of the world local law enforcement may BE the problem). They will help with a number of things from making arrangements to transfer money, to negotiations.

Did you ever see the movie PROOF OF LIFE? While the story highlights a gun battle release, the story is actually not too far off from reality. In the absence of insurance, the family had to rely on local assistance, which wasn’t going to be in their interest! With a professional response team, the process became more directed and safer.

The EPIC 1 is a product which any international business client should have or consider. It is easy to quote; all we need is our worksheet (part of the brochure) to be completed. Quotes can be generated usually within 24 hours.

As a special promotion, any producer who sells an EPIC 1 between now and the end of 2003, upon placement of coverage, if they mention that they read about this type of coverage in The Communicator, will be sent a DVD copy of the movie – PROOF OF LIFE.

Before we take the credit for this idea, one of our producers was about to lose a renewal of kidnap coverage. He mentioned the movie Proof of Life, and wham! It renewed! Try it!