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kidnap and ransom insuranceKidnap and ransom insurance is another tool to better manage the risks in nations where companies have expatriates employed or where corporate executives or celebrities are traveling.
The company has become a leading provider of marine
kidnap and ransom insurance, offering a range of products designed to help companies in the shipping industry manage a wide variety of operating and financial risks.
Kidnap and ransom insurance should be considered more widely by travelers.
Classic kidnapping, with a person snatched and held for ransom, has evolved into "express kidnapping," says Greg Bangs, product manager for crime,
kidnap and ransom insurance at Chubb, "where people are grabbed, robbed and taken to an ATM, where they're forced to withdraw money, and then get dumped, often stripped and beaten."
Filming in South Africa, it's safe to assume Trevor and the gang had to take out
kidnap and ransom insurance themselves.
The cost of
kidnap and ransom insurance for the Gulf of Aden has risen tenfold since 2008 due to increasing pirate attacks on ships, the pan-Arab daily AL HAYAT reported Thursday.
That is dearly true in the field of
kidnap and ransom insurance, to which many add the subfield of extortion coverage.
Many now hold
kidnap and ransom insurance policies for their players.
Crisis response coverage, or
kidnap and ransom insurance as it is sometimes referred to, provides policyholders protection for ransom-related fees and personal belongings including items being carried or transported at the time of an express kidnapping, and possessions surrendered during the course of an express or other type of kidnapping.
Have clients who purchase
kidnap and ransom insurance become more sophisticated?
In order to assist in these instances, most
kidnap and ransom insurance provides crisis and risk management consulting on incident response, security and training to employees traveling abroad.
