Organizations that send employees to destinations with a high risk of kidnapping should seriously contemplate kidnap and ransom (K&R) insurance. K&R insurance protects individuals and corporations, typically covering kidnapping, extortion, wrongful detention and hijacking. K&R policies may also indemnify personal accident losses caused by kidnapping, and will generally cover the fees and expenses of crisis management consultants.
When looking at a K&R policy, there are a number of questions that organizations should ask their broker or insurance provider. An inability to answer some (or all) of these questions should raise red flags about the broker. In effect, buying K&R insurance from an unqualified provider is akin to buying car insurance from a company that has never seen a car. They understand the concept, but they don’t know how to drive.
If the insurance provider says no, your organization should walk away. K&R insurance providers should have access to reputable, government-certified instructors and trainers. Providers should also offer organizations a discount on premiums if they provide the appropriate kidnapping prevention and awareness training for their travelling workforce.
