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Kidnap,
Ransom & Extortion
Kidnap, ransom, extortion
and hijack continue to be issues for both corporations
and individuals. Kidnapping of individuals or
attempts at extortion are well-established crimes.
Kidnap is now increasingly
prevalent given the scope of overseas travel,
global company operations and actual or perceived
wealth of individuals. Most kidnaps are carried
out to obtain financial reward and in the majority
of instances, a ransom is paid to the kidnappers.
Extortion threats to damage
products, property and computer systems are real
issues being faced by companies on a worldwide
scale. We cover companies against all forms of
extortion and can protect your assets from illegal
demands and the consequential associated expenses.
Political evacuation of a
company's employees can involve considerable travel
and accommodation costs. In certain parts of the
world, the political situation can deteriorate
almost overnight. Companies operating in areas
of political and economic instability need to
be able to deal with the problems associated with
the withdrawal of their staff and families in
the event of general instability or a specific
incident. Coverage will encompass costs for evacuation
and repatriation of expatriates and their dependants
out of the country or area.
Business
Targeted
There are a number of prime targets for kidnappers
and extortionists across the world who are lured
by a potential financial reward, media exposure
and political propaganda gained by these violent
acts. Targets can include high profile individuals,
high net worth individuals, sports figures, charitable
organisations, financial institutions, multinational
corporations with overseas assets or individuals
either travelling or residing overseas.
QBE can provide peace of mind
protection for you, your family and your employees
through the provision of kidnap, ransom, extortion,
political evacuation and hijack insurance to suit
your requirements. ARC Risk Management has been
retained by QBE to provide their specialist knowledge
on security risk management to these classes of
insurance. As part of the policy, we will contribute
to consultant costs for pre-incident advice training
provided by ARC, which is negotiated as part of
the package.
Underwriting
Criteria
A completed proposal form will enable QBE's Crisis
Management underwriters to look at a new enquiry
with a view to providing indicative terms. The
proposal form requests for information such as:
- Your company name and industry
type
- Your net asset value or
turnover
Employee numbers and expatriates' exposures
- Location of operations
or country destination and duration
- Preventative security
measures in place
- Copies of crisis management
plans
Policy Details
We have been able to
negotiate with ARC Risk Management to provide
our brokers and policyholders with access to their
free unique website service. ARC Risk Management
is available on a 24-hour, 365-day basis free
of charge for an unlimited period or amount, offered
by QBE as part of the policy.
The policy is a full
risk management package protecting all financial
costs incurred by the insured. It ensures that
the expert services offered by the consultants,
and their response capabilities are accessible
immediately and easily to deal with a kidnap situation
promptly and efficiently.
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