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Why do I need kidnap & ransom insurance?
International Incidents - Situations are occurring around the world
"Kidnappers Free Seven Hostages Held in Ecuador following a reported ransom payment of $13 million dollars." (Source: Washington Post, 3/21/01) "Blackmailers have threatened to poison the products of eight big food, drink and cosmetics multinationals in France unless they pay a ransom of €1 million euros ($1.2 million dollars)." (Source: Guardian Newspapers 10/20/04) Terrorists will keep targeting foreigners - "Foreigners stand about a 1-in-380 chance of being kidnapped and kidnapping for ransom has been commonly used around the world." (Source: Washington Times) Frightened families look to S.D. County - Fear of being kidnapped is prompting some of Tijuana's middle-and upper-class families to move across the border to San Diego County neighborhoods where they feel safer. (Source: San Diego Union-Tribune) Construction Workers Kidnapped - Sixty construction company employees, including seven foreigners, were kidnapped by guerrillas in a construction camp 600km southeast of Lima. (Source: Hiscox)
Claims Scenarios
- Foreign Kidnap
Latin American guerrillas kidnapped two foreign engineers working at a multinational corporation's project site. Upon notification of the situation, Control Risks deployed consultants to the corporation's local office in Latin America. The consultants recommended a negotiating strategy that diminished the kidnappers' expectations. They also worked with local authorities, humanitarian organizations and the church; all provided invaluable assistance at crucial stages of the incident bringing about a successful resolution. In addition to the on site strategy that was implemented, the consultant also worked at the corporate level to establish a structure to ensure minimal disruption to normal business functions, and to provide psychological counseling to those family and colleagues who required it.
- Russian Extortion
Extortionists threatened to drive a company out of business over the demand for money. Control Risks learned that extortionists were demanding a large cash payment or they would destroy their business. Boldly and perhaps naively, one of the extortionists openly held meetings with the company's lawyer and even visited the company's offices. CRG's crisis management professionals worked closely with the local organized-crime squad, managing the negotiations between the company and the extortionists, all the while collecting detailed evidence. Finally, an elaborate operation was implemented, resulting in the arrest of three of the extortionists, and the subsequent arrest of a fourth. All were tried and convicted.
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