Kidnapping is defined as the unlawful act of stealing, carrying off or abducting someone by force or fraud, especially for use as a hostage to extract a ransom payment. What were once crimes perpetrated exclusively against the affluent and influential, kidnappings, abductions, unlawful detainments, illegal arrests and ransoms are happening more and more to people from all socioeconomic levels and walks of life.
Kidnapping statistics are alarming. In the U.S., for instance, there has been a significant rise in child abductions due to parental custody disputes. Internationally, surges in human trafficking and tourist hijackings have also been reported – especially in remote and unsafe parts of the world. In 2012, the following top 10 global kidnapping hot spots were identified, prompting state and federal agencies to issue travel warnings and alerts in these zones:
The problems are not just isolated to the above-mentioned Nations, but are quickly spreading to more locations worldwide. Kidnapping today is big business: Extortion and ransom payments total in the multi-millions of dollars each year.
What Is Kidnap And Ransom Insurance?
Kidnap and ransom insurance provides comprehensive coverage and protection for those traveling in high-risk parts of the world. It’s designed to minimize the financial impact of these incidents on both individuals and multinational corporations.
Who’s At Risk?
Traditionally, high-profile families (famous celebrities and powerful company executives), non-government organizations and employees of corporations operating abroad are the most vulnerable, however, potentially anyone can fall victim to such crimes.
What Does Kidnap And Ransom Insurance Cover?
Kidnap and ransom insurance policies typically cover losses from monies paid for ransom, as well as reimburse the insured for other expenses related to kidnapping or extortion, such as:
- Transit and delivery costs
- Investigation, negotiation and recovery services
- Accidental death or injury
- Legal fees
- Medical care
- Lost wages
- Crisis management consulting
What You Can Do To Minimize The Danger
Kidnappings, hijackings, abductions, detainments and unlawful imprisonment can happen when you least expect it. The following are some things that you can do to help lower your chances of becoming a target:
- Avoid traveling in dangerous regions and countries
- Be hyper-vigilant of your surroundings, both at night and during daylight hours
- If you are living or working in hazardous areas, participate in kidnapping prevention and preparedness training.
Peace Of Mind When Traveling
Many insurance companies offer coverage to traveling employees and their families, as well as to individuals as part of a personal insurance travel package. As mentioned earlier, anyone can be vulnerable to a kidnap, ransom or extortion crime while visiting a foreign land, so it’s prudent and recommended that one be adequately protected. Discuss your particular situation with an agent or broker experienced in the kidnap and ransom insurance area so you’ll be able to enjoy peace of mind knowing you and your family are safer and more secure when far away from home.