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Since the insurance policy is just part of the overall strategy for mitigating these exposures, companies should take steps to reduce the possibilities of a kidnap or extortion event by selecting the most appropriate crisis management and response partner for their needs. The insurance carrier should work hand-in-hand with the crisis management firm to ensure the most complete coverage and related services.
Extortionists attack the assets of a company—its people and its real property. An organization's profitability and reputation can be significantly damaged by extortionists' demands; therefore, how a company handles these demands and manages a crisis is vital.
Purchasers of Insurance receive "General Security Guidelines" and "Kidnap, Extortion and Illegal Detention Procedure Guidelines" provided by Control Risks.
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