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Kidnap and Ransom

Hundreds of people are kidnapped across the globe every year and the cost of a kidnap can be devastating to an individual or to a company.

Kidnap and Ransom Insurance is very specialised cover, and there are few brokers in South Africa with the knowledge to give you the right advice in this area. Through our partnerships with the top insurers, we provide our clients with access to the best insurance products and expertise in crisis management.

Through Praesidio Risk Managers, Kayser Baird is able to offer its clients access to cover from Hiscox, the world’s largest provider of specialist kidnap, detention and extortion insurance.

Based in London, Hiscox has exclusivity with Control Risks – the global leader in independent security consulting.

Control Risks is unequalled in their experience with resolving cases of kidnap, piracy, extortion, threat and illegal detention. They have been operating since 1975 and have over 42,000 case-days of experience built from over 2000 individual cases.

Insurance for Kidnap and Ransom can be as murky and uncertain as the underlying issue. Many of the policies available on the market do not deal adequately with the extremely complex process of managing a case of kidnapping.  In many ways, the insurance cover itself is secondary to the services offered by the appointed crisis management consultant, and in a situation where a staff or family member is kidnapped, having the right consultant handling the case is an important factor in a positive outcome.

Historically, cases of Kidnap and Ransom have been relatively isolated to Latin America – but this is now a Global issue and a particular concern for South African companies sending staff into African countries.

Why Kayser Baird?

What Kidnap and Ransom Insurance Provides

K&R policies do not pay the ransom on the insured’s behalf. It is reimbursement cover, that covers a loss incurred by the insured.

Importantly, a Kidnap and Ransom Insurance Policy pays for the fees and expenses of the consultant company appointed to manage the case. The consultant will work hand in hand with the insured to ensure that the response to the incident is handled in the best way. Control Risks will deploy consultants to the company and / or family of the employee or individual, and also to the country where the kidnapping occurred.

What is covered?

Typical losses included

Contact us to find out more.

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