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The number of foreigners kidnapped worldwide has spiked, according to Arthur J. Gallagher’s March 2016 “Kidnap & Ransom Insurance” market conditions report, because of increases in Northern Africa and the Middle East (Syria, Libya) and in South America (Columbia, Venezuela, Mexico).

The marketplace for kidnap and ransom insurance is stable and competitive, with premiums as low as $600 per million for companies with limited foreign exposure, up to $1,000 to $3,000 per million for those companies with higher exposures. Policies are broad, the report says, but can include enhancements such as child abduction and cyber terrorism. 

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Shawn Moynihan

Shawn Moynihan is Editor-in-Chief of National Underwriter Property & Casualty. A St. John’s University alum, Moynihan has earned 11 Jesse H. Neal Awards, the Pulitzers of the business press; seven Azbee Awards, from the American Society of Business Press Editors; two Folio Awards; and a SABEW award, from the Society of American Business Editors & Writers. Prior to joining ALM, he served as Managing Editor/Online Editor of journalism institution Editor & Publisher, the trade bible of the newspaper industry. Moynihan also has held editorial positions with AOL, Metro New York, and Newhouse Newspapers. He can be reached at [email protected]

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