Kidnapping and extortion are significant threats to organizations and those who serve them around the world. Most vulnerable are organizations with employees based or who travel overseas. Organizations with high profiles or with operations that handle large amounts of cash, or that work with sensitive information, or technology, are also at risk. Properly managing a kidnapping, extortion or other crisis event is essential in protecting the life and well-being of a victim as well as an organization’s assets, including its reputation.

Kidnap and Ransom (K&R) insurance protects organizations against the financial loss that can arise when an employee is seized or detained for ransom or in the face of extortion. Backed by unparalleled consultant, medical, and emergency travel assistance services, we lend organizations the experience and resources typically not provided in-house to manage and resolve these incidents successfully.

Coverage Highlights

• Extends the definition of insured to include officers, directors and employees, their guests, relatives, and any person delivering or handling ransom money
• Encompasses a broad range of claims including: kidnapping, wrongful detention, extortion (against persons and property), and hijacking
• Applies coverage to employees and relatives around the clock, whether business related or otherwise
• Immediately reimburses the insured for expenses/ransom once a covered crisis is over and payments made are received
• Provides clients with unparalleled consultant, medical and emergency travel assistance services in conjunction with our service partners: Travel Guard, and NYA International
• Includes access to Global SafeTravel, an easy-to-use, web-based system that enables organizations to keep their business travellers informed and up-to-date, manage, track and communicate with travelling employees, and provide them with immediate, 24/7 assistance in the event of any incident
• Offers 24/7 access to in-house claims personnel dedicated to K&R related claims

Broad Risk Appetite
AIG offers up to $50 million in primary limits for standalone Kidnap, Ransom & Extortion (KRE) insurance. We have the appetite to underwrite all types of KRE insurance, spanning all industries and countries. We offer everything from traditional corporate kidnap and ransom insurance to individual and family policies. Simply put, we offer a worldwide policy with very few restrictions.

Expert Underwriting
AIG has been underwriting in this particular sector for over 30 years. In addition to our specialist Canadian staff, we have more than 200 authorized underwriters writing the business globally. We have the knowledge and experience to provide flexible solutions depending on the needs of the individual client. Our local and regional presence means that we can make fast and effective decisions, which is critical in this particular line of business.

Claims Expertise
AIG has a proven track record of handling and quickly paying claims when clients need it most. We have dedicated claims specialists that focus solely on this class of business and have been doing so for a number of years. Many of our claims professionals situated around the globe hold advanced degrees or professional designations and are well-qualified within their area of expertise.

Best in Class Coverage
AIG offers CrisiSolution^TM - a comprehensive package of vital services and insurance protection to respond to a number of crisis events that can occur while travelling or residing in various “hot spots” and major city centres worldwide. CrisiSolution insurance is more than just traditional kidnap and ransom (K&R); it provides cover for a range of threats against company employees, their families and private clients.

Product Breadth
AIG currently services 98% of the Fortune 500 companies and our client base covers over 130 different countries. We provide access to prevention and response services from NYA International, a world-class specialist crisis response consultancy. NYA has the largest global specialist response team in the industry; all of whom are either full time employees or exclusively retained, making ours one of the leading insurance solutions in the market.

If you would like to speak to our product expert, please contact Jose Carlos Tey at 416-596-3017.