Kidnap and Ransom insurance from Tokio Marine HCC Specialty Group will cover events either in the United States or in a foreign country. Coverage can be for a short duration or a policy can cover several years. There can be one or many people covered on the policy. Each organization or family and their circumstances are unique and each case receives its own consideration and underwriting review to establish a premium amount.
- Kidnapping: an individual or group is abducted and held against their will and ransom is demanded for their release.
- Express kidnapping: an individual is kidnapped and then forced to pay for their own freedom usually by making cash withdrawals from ATMs.
- Hijacking: an individual or group traveling on an aircraft, boat, plane or other vehicle are illegally seized and are forced to surrender their cash and personal belongings or ransom demand made to their official sponsor or government.
- Detention: usually when an individual or group is detained by a foreign government for an activity that would have been legal in the United States.
- Extortion: a demand for money from an individual or company by means of a threat to property or persons.
- Threat: when an individual or group announces its intention to cause harm to persons or property.
- Disappearance: the involuntary disappearance of an individual or group.
Covered losses include
- Ransom and ransom lost in transit
- Surrendered personal belongings
- Legal Liability
- Additional expenses (including medical expenses and salary)
- Accidental death and dismemberment
- Threat response expense
- Disappearance and investigation expenses
- Recall expenses
- Crisis response fee of Unity Resource Group
With additional coverage options for
- Travel / expatriate security evacuation
- Loss of earnings
- Workplace violence expense (including AD&D)
- Child abduction
- Emergency medical evacuation
Individuals and Groups Eligible For Coverage
- Church groups
- Family members
- Government employees
- Humanitarian and development organizations
- Non-Governmental Agencies
- Missionary groups
- Media companies
- Religious organizations
- Travel groups
- Kidnap and Ransom High Net Worth Households (1.5 MiB)
- Kidnap and Ransom Specialty Coverages Family Application (76 KiB)
- Special Coverages Application (101 KiB)
- Tokio Marine HCC Kidnapping and Ransom (551 KiB)
- Unity Crisis Response - Brochure (257 KiB)
Frequently Asked Questions
What happens if the victim is kidnapped and the demand is made against the family, not the employer?
The policy will respond regardless of whether the ransom demand is made to the employer or to the family of the covered victim.
Does the victim need to be traveling on company business in order for the policy to respond?
The policy responds on a worldwide basis, regardless of whether covered persons are traveling on business or pleasure.
What happens if a covered incident happens at night or on a weekend?
Specialty Group policyholders are provided with 24/7 telephone hotline access to Unity Resources Group whose network of highly trained professionals stand ready to assist on a worldwide basis.
Are relatives and guests covered?
Although Specialty Group policies can be individually tailored, most policies covering a policyholder’s employees also extend coverage to those employees’ relatives and guests (as defined in the policy).
How many events are covered per policy term?
Several events may be covered under the same policy term as long as the policy aggregate limit is not exhausted. If the policy purchased has no aggregate, the only limitation is the limit per event. That means that policy limits apply to each incident, regardless of how many persons are kidnapped in connection with one event.
Does the policy pay on a policyholder’s behalf or is payment made on a reimbursement basis?
The coverage will reimburse the policyholder for claims made in the case of a covered incident. The policyholder will also be reimbursed for any reasonable expenses, including interest charges incurred in connection with a loan to pay a ransom, as well as other critical related expenses.
In addition, the crisis response fees and expenses of Unity Resources Group in connection with covered incidents are paid directly by Specialty Group; and, unless the policy is otherwise amended, the policy provides unlimited coverage over and above basic policy limits for these expenses.
Does Specialty Group offer coverage on an excess follow-form basis?
Yes, Specialty Group can offer its full US$50 million capacity on an excess follow-form basis. This approach is particularly useful for brokers looking to place extremely large limits in excess of any one carriers’ capacity.
How long has Specialty Group been writing this coverage and what is the number of dedicated staff working on this specialty line of business?
Specialty Group has been specializing in this line of business since 1980 and has a dedicated staff of seven underwriters for the kidnap and ransom, extortion and detention product line.