Kidnap & Ransom Coverage
Kidnap and Ransom has become more important for expatriate and traveling employees around the world, especially those who are located in high-risk countries. More and more employees are at risk as simply working for a global company can make you a target. The Kidnap and ransom insurance that TFG Global may be able to source can be the difference between a positive outcome and a worst-case scenario. A kidnapping incident can happen to a mid level employee, senior executive or even their dependents. The financial impact of kidnapping can be substantial.
Dealing with a kidnapping or hijacking incident, negotiating with criminals or rescuing hostages can be incredibly expensive – sometimes more than the actual ransom that is eventually paid. The insurers that we can source have access to very experienced and highly trained staff who will help a company deal with an incident. A K&R policy that is sourced by TFG Global can cover all the employees and even their immediate families on a 24/7 basis and form part of a comprehensive Accidental Death & Dismemberment (AD&D) policy. The coverage can even include consultants. Having a K&R policy in place not only makes commercial sense but it also gives your company and its investors peace of mind. It is part of your firm’s duty of care.
Special Risk Services Above & Beyond
Finally, our associates at SCR that we work with on special risk cases provide our clients their our in-house security risk and crisis management practice, Alert:24. Their team of former military, police and intelligence services personnel provides intelligence, consultancy, and training to help mitigate your risks and reduce your exposures. SRC provides our clients with their 24/7 response center to assist clients in their claims.
To find out more about protecting your company, employees and consultants from a kidnapping or ransom, please contact TFG Global today. We will need details on your existing coverage if it exists along with employee census data for expat employees and also the travel details for those who travel from the head office. TFG Global and our underwriting associates in London will search the market for a Kidnap and Ransom (K&R) policy that best suits your firm’s needs and budget. TFG Global has access to security consultants around the world who can examine your current security needs and even provide close protection where required.
Please keep the details, quotes and even the fact that you have K&R coverage confidential in order to avoid making your company and employees a target. Note that TFG Global may not be able to source coverage for your firm depending on the HQ address due to regulatory constraints, but we can work on a consulting basis where possible or refer you to a K&R licensed brokerage. In the event of a claim, the response and claims consultants from the insurer and underwriter are available on a 24/7 basis along with the services of TFG Global Insurance Solutions Ltd.
A Kidnap and Ransom insurance policy is custom made for your firm and is always based on the specific risk profile provided. The benefits of a kidnap policy can include: