Being kidnapped isn't something most people consider to be ahazard, and generally they give it no thought. However, it's a serious risk in many parts of theworld.

'Express' kidnapping

Express kidnapping, which sounds like a variety of fast food,occurs when an executive is grabbed at an airport, quickly pulledinto a vehicle and taken to multiple ATMs to withdraw money.

There is usually a 24-hour withdrawal limit at the ATM, so theperson is kept for two to three days and then released.

Executives are easy to spot: They tend to bewell-dressed, with multiple electronic devices and expensivebriefcases, and they tend to come off the plane early, having flownfirst or business class. Once the kidnappers identify the victimand the level of importance within the company, the situation mayescalate. The employer and the family often pay to avoid riskingharm to their employee or loved one.

4 insuring agreements for coverage

Coverage, provided by ISO Form CR 00 40, Kidnap/Ransom andExtortion Coverage, has four insuring agreements:

  • Kidnap/ransom and extortion — direct loss,

  • Kidnap/ransom and extortion — expenses incurred,

  • Detention or hijack, and

  • In-transit delivery of property.

In most cases an individual is kidnapped for cash, but otherproperty may be demanded as well. All are covered by insuringagreement one.

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