Are you and your family at risk?

With more people traveling abroad for business and recreation purposes, the threat of facing a kidnap, ransom, or extortion incident continues to increase. Having a kidnap, ransom and extortion (KR&E) policy in place enables one to mitigate the potential losses associated with these threats. In addition, should the unthinkable occur and a kidnapping or extortion incident takes place, a family that has examined the issue in advance may have greater ability to control and contain the incident, potentially enabling the safe return of a family member.

Some events typically covered by a KR&E policy include:

• Kidnapping for ransom
• Threats to kidnap, injure, or kill for ransom
• Wrongful detention/holding under duress without a ransom demand
• Hijacking of an aircraft, motor vehicle, or waterborne vessel

Clients with Victor's KR&E coverage are able to immediately access consultants in security/crisis response firms who specialize in resolving these types of incidents. Additionally, should an insured event take place, the KR&E policy is designed to cover expenses involved, such as the ransom payment, security/crisis response firm consultants’ fees, and additional expenses related to the insured event which may include rewards to informants, travel and accommodation costs, legal advice, and medical or psychiatric care. Coverage can also be extended to respond to threats, disappearances, security evacuation, and child abductions.

Risk Factors

If any of the following risk factors exist, we recommend speaking with one of our specialists regarding appropriate coverage.

Do you:

• Have a high visibility profile and lifestyle?
• Have an actual or perceived position of power?
• Travel abroad for business or pleasure?
• Have domestic or other employees traveling abroad?
• Travel via private vessel on the sea or by air?
• Have a foreign residence?
• Have family members residing overseas for an extended period of time, including children studying abroad
• Lack a strategy for responding to threats, extortion, or ransom demands?
• Have concerns about the increasing danger of abduction or extortion
• Lack a mapped out line of communication, including procedures for contacting the necessary and appropriate authorities and dealing with media?

This information is for illustrative purposes only and is not a contract. It is intended to provide a general overview of the policy described. Nothing contained herein should be construed as an acknowledgement by Schinnerer that a given situation may be covered under a particular policy. ©2015 Victor O. Schinnerer & Company, Inc. | In CA, dba Schinnerer Insurance Services | CA Ins. Lic. # 0156109