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Special Risks Insurance - Kidnap and Ransom / Threat Extortion
The cover is designed to reimburse your company for losses that occur following the illegal taking and detention of one or more of your employees which are shown in the schedule of the policy as:
· Ransom monies demanded as a condition of the release of the captive
· Loss in transit of a ransom
· Response consultants' fees
· Additional expenses incurred by your company or organisation.
AKE can provide Pre-Risk training, crisis management and response.
The events insured are defined as follows:
Kidnap
The actual taking or alleged taking and holding captive of covered person(s) by persons who then demand a ransom as a condition of the release of such captive(s).
Extortion
You or covered person(s) receive threats to kill, injure or abduct covered person(s) or to damage property by persons who then demand a ransom as a condition of not carrying out such threats.
Detention
The covered person(s) being held under duress for whatever reason whether by authorities legally constituted or by others.
Hijack
Covered person(s) being held under duress for a period in excess of six consecutive hours whilst travelling on any aircraft, motor vehicle or waterborne vessel.
Download the Key Facts, Application Form and Sample Wording in pdf format
Special Risk Policy Key Facts
Special Risks Application Form
Special Risks Sample Wording |
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