Kidnap and Ransom

Provides coverage typically for monies paid to kidnappers or extortionists, loss of ransom in transit, and other expenses incurred as a result of a kidnapping. 

These threats are very real and can happen to any business. The policies do not pay ransoms on behalf of the insured. Typically, the insured must first pay the ransom, thus incurring the loss, and then seek reimbursement under the policy.

Main features

  • Ransom monies – money paid or lost due to kidnapping
  • Transit/delivery – loss due to destruction, disappearance, confiscation, or wrongful appropriation of ransom monies being delivered to a covered kidnapping or extortion
  • Accidental death or dismemberment – Death or permanent physical disablement occurring during a kidnapping
  • Judgments and legal liability – cost resulting from any claim or suit brought by any insured person against the insured
  • Additional expenses – Medical care, PR counsel, wage and salary replacement, relocation and job retraining, and other expenses related to a kidnapping incident

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