What is Kidnapping Insurance?
Kidnapping insurance is a key component for high income individuals, executives, Missionary groups, Educational institutions or any other entity that will require overseas travel or who may be high profile target for Kidnapping.
Kidnapping insurance reimburses the policy owner for costs involved in a Kidnapping, Extortion, Detention and Highjacking. Individual, group and corporate insurance plans are available
Kidnapping insurance is purchased by a person or corporation to protect themselves or business against the costs of kidnapping or extortion.The policy owner will need to pay for all costs up front and then file a claim for reimbursement.
A policy owner may apply for benefits up to their personal or corporate net worth.
What do these plans cover?
Kidnap – Taking of an insured person and making a demand for ransom
Extortion – Threatening the insured with injury , death or abduction
Detention – Holding of the insured under duress
Hijack – Holding of the insured , under duress, for a period of 6+ consecutive hours while traveling on a aircraft, motor vehicle or water bond vessel.
Some of highlighted plan benefits are:
Ransom Reimbursement – Reimbursement of ransom paid for a covered event
Loss of Ransom during delivery – Reimbursement for loss of funds by confiscation, destruction,disappearance, seizure or theft.
Travel Expenses – Costs of travel incurred during kidnap period
Reward Payments – Payments made to an informant for information which contributes to the resolution
Loss of Income – 100% of a kidnapped gross salary.
Asset Protection – Benefit to cover loans that were specifically completed to meet Ransom demand.
