Insurance brokers are offering specialist international insurance products that provide individuals and groups with specialist kidnap and ransom [K&R] cover. The Health Insurance Group has partnered with Voyager Insurance Services Ltd.
Sarah Dennis, Head of International for The Health Insurance Group, said: “Every year there are more than 40,000 kidnappings globally, and over 40 per cent of these are professionals and business personnel or their dependents. Kidnappings can occur in any region of the world, but particularly in hot-spots such as war zones and crisis zones such as Iraq, Afghanistan and Syria, and sub-Saharan Africa, South America and areas of political or social unrest. In any K&R situation the issues and risks are both complex and interwoven and few details are ever made public. Our K&R capability is designed to reassure businesses and help them fulfil their duties towards protecting staff overseas, who may have been asked to work in some potentially remote or hostile environments.”
Included are:
– Kidnap and ransom cover up to £3m per person and up to £6m in the annual aggregate per policy.
– Travel insurance to high risk areas.
– Personal accident (including injuries arising from war or terrorism).
– Medical and repatriation.
– Political and natural disaster evacuation
– Cover for war zones, crisis zones and high risk zones.
– Last minute cover available if paid by credit card.
Access to a 24/7 emergency and crisis response service provides global support backed by worldwide ‘on the ground’ medical and personal security the firms add.
The K&R products are provided by an insurance company rated A+ (‘Superior’) by A. M. Best. Cover is available to UK, EU, US, Australian and Canadian citizens in any country worldwide, or any company or organisation in those countries who are sending staff overseas.
Dennis added: “According to security experts, as foreign oil, mining and security firms have expanded into new territories the risks to westerners working abroad has increased in recent years. This has fuelled a new breed of terrorist that use kidnapping foreigners as a chief means of fundraising. It is, however, sobering to know that a hostage’s chances of freedom also comes down to just two things: their nationality and whether or not they work for an employer with ‘kidnap and ransom’ or K&R insurance.”
Short term and annual policies are available. The first kidnap-for-ransom insurance policy, offered by insurer Lloyd’s of London, dates from 1932, shortly after the highly publicised kidnapping and murder of US aviator Charles Lindbergh’s 20-month-old son. Visit www.healthinsurancegroup.co.uk.
