Kidnap and Ransom Insurance
Providing your employees with the confidence to represent you, anywhere
Businesses are investing in, and working with, new and emerging markets all the time. The Middle East and Africa are experiencing unprecedented expansion and growth. Latin America is becoming more established as a trading partner, whilst China and the Far East build on strong trading reputations. As the footprint of business expands, so does the footprint of the cover we provide.
We understand that businesses are located and transact globally. People are travelling more frequently for both business and pleasure. AIG provides a global form offering consistent and compliant cover, wherever the client operates from. Our policy is an umbrella policy, so we don’t add unnecessary restrictions into our wording so the destinations your employees travel to are covered.
Each company has a duty of care to all of its employees – not just expatriates but those who travel, their local nationals, sub-contractors, and even their families. Organisations need to demonstrate that they have taken all practicable steps to meet their employees’ health, safety, security and wellbeing needs. Kidnap and ransom risk assessments and appropriate cover can be a key part of this strategy.
The response received in a crisis is critical. Our Crisis Consultants include NYA International (NYA), Edelman and Retail Quality Assurance (RQA). They respond to hundreds of cases of kidnap for ransom, extortion, detention, piracy, emergency evacuation and related security incidents globally each year.
Our Kidnap, Ransom and Extortion product gives the victim's family and company support for the immediate and ongoing consequences.
AIG provides 24-hour response on a worldwide basis to manage the incident and help give pre-incident planning, counter terrorism and other security services.
Covers payment and related expenses and business interruption cost.
AIG’s policy covers incidents that take place worldwide.
Covered incidents under our standard policy wording:
Evacuation & Repatriation
AIG can extend to cover the following coverages via endorsement;
• Business Interruption
• Cyber extortion
• Political Evacuation & repatriation
• Express Kidnap
• Hostage Crisis
• Product Loss
• Tiger Kidnap
In the event of an incident, AIG’s crisis consultants guarantee an immediate response, providing advice to the client’s crisis management team, or family, throughout the duration of the incident to help them manage it to a successful conclusion.
AIG retains the only response team of its kind that will deploy up to four consultants upon notification of an incident: two each to company headquarters and the incident location, providing AIG clients with maximum levels of support during the critical early stages of a crisis.