Corporate Kidnap and Ransom, Extortion, Detention and Consequential Personal Accident Insurance

Whether it’s to make a political statement or used purely as a means to financial gain, kidnapping for ransom is a threat to any businesses operating in high-risk regions of the world.

Corporate Kidnap and Ransom, Extortion, Detention and Consequential Personal Accident Insurance is designed to reimburse an Insured following one or more of the following Insured Events:

Insured Events
•    Kidnap for Ransom
•    Threats to Kill, Injure or Abduct Individuals
•    Threats to Damage Property or Products
•    Extortion
•    Wrongful, Malicious or Illegal Detention
•    Hijacking
•    Delivery Risks
•    Legal Liability
•    Political Threat

Global Reach

There are no ‘off-risk’ territories; policies can be worldwide or individually tailored for specified countries.  Paragon works with insurers who have particular expertise in high risk regions, including Afghanistan, Iraq, Nigeria, Columbia, Venezuela, Haiti, Mexico and the Russian Federation.

Covered Losses

Kidnap and Ransom policies protect personal and corporate assets against financial loss arising from any of the following:

•    Ransom monies including monies lost in transit
•    Loss of Limb, extremity or sight
•    Negotiator’s fees
•    Reward payments
•    Loans
•    Travel
•    Salary
•    Medical costs (including psychiatric care for a defined period following release)
•    Forensic costs
•    Personal financial loss
•    Business interruption costs
•    Rest and rehabilitation expenses
•    Interpreter costs
•    Security costs
•    Re-training costs

Crisis Consultants

Crisis consultants form a key link in the both placement of a policy and also the smooth handling of an incident.  Each insurer generally prefers to use a company with which it has built a strong working relationship.  

The costs of the crisis consultants are borne exclusively by the insurer and are not paid by the insured as an additional premium.  Additionally, in the event of crisis consultants being required to assist with an incident, the cost of their services does not erode the policy limit.