Filed Under:Risk Management, Corporate Risk

4 Facts About Kidnap and Ransom

Fueled by continued social and economic unrest, kidnappings are one of the fastest-growing criminal industries

Since the dramatic Jan. 25 rescue of an American teacher and a Danish aid worker kidnapped by Somalis, the issue of kidnap and ransom (K&R) insurance has been at the forefront of media focus. A glance through recent headlines reinforces the maze of possible, insurable K&R exposures. Splashed across front pages are alarming, real-life scenarios in which those involved would be well advised to have had K&R coverage—and those are just the situations that are made public. Regardless of this recent increased visibility in the media, the risk of kidnap for ransom has been, and continues to be, a real and viable threat.

Related: Read the article  "3 Ways to Sell Business Travel Accident Insurance" by Dominick Zenzola.

Related: Read the article "Tailor an Executive Liability Program to Fit Your Client" by Monica Minkel.

Effective K&R risk management consists of four trends:

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