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Corporate Kidnap and Ransom/Extortion Takaful

Kidnap and extortion are a very real and growing threat in today's world. As many as 12,500 kidnaps are reported each year in over 40 countries, mainly in Latin America, Russia and Asia, with the average ransom payment doubling in the last four years and some payment demands exceeding USD 50 million. Whilst the most vulnerable companies are those that have employees based or travelling overseas; organisations which have high profiles, handle large amounts of cash, or work with sensitive information or technologies can be attacked as well.

Chartis Takaful's Corporate Kidnap and Ransom/Extortion Takaful not only protects against financial loss but also provides the services of Clayton Consulting, leading crisis management and security consultants, to manage incidents on the policyholder's behalf.

Cover

Kidnap / Alleged Kidnap

A seizure or detention of an Participant person for the purpose of demanding ransom moneys.

Extortion

Payment demands following a threat to injure, or kill an Participant Person; damage property; contaminate products; divulge trade secrets or destroy electronic data by computer virus.

Wrongful Detention

Involuntary confinement by a government entity or insurgent organisation.

Hijack

Illegal holding under duress of an Participant Person while travelling on any aircraft, motor vehicle or waterborne vessel.

Cover includes:

  • Ransom Monies

  • Loss in-transit of payment

  • Related expenses: salary, personal financial loss, medical costs, rest & rehabilitation, travel & accommodation, loan interest, reward, interpreter, forensic analysis, other reasonable & necessary expenses, recall expenses, business interruption etc.

  • Consultant Costs

  • Judgement, settlements and defence costs

  • Death or Dismemberment arising from a covered incident

  • 24 hour emergency response help line

Cover Optional:

  • Evacuation and repatriation

  • Child abduction

Client Profile

  • Any company with employees either travelling to, or based in, overseas countries, particularly Latin America, Asia, Eastern Europe and Africa.

  • Cash rich or high profile companies operating in Europe or overseas.

  • Manufacturers or retailers of consumer goods.