Products:
Kidnap & Ransom
Next to the War & Strikes insurance it has become common practice to also insure against the consequences following from a Kidnap & Ransom demand (amongst others as a result of an attack by pirates).
This type of insurance is closely connected to the War & Strikes insurance. It basically covers the ransom and associated expenses incurred following a kidnap incident for private individuals in any country in the World. (not covered under a War & Strikes risks insurance).
The Kidnap and Ransom insurance is designed to specifically meet the needs of vessel owners in dealing with a host of demands by the kidnappers which requires swift action /response. Among the benefits are kidnap negotiators on hand to assist with negotiation and delivery of any ransom. The policy normally covers all related costs incurred specifically to secure the prompt safe release of the vessel, crew and cargo.
Various limits, area's of cover and duration of the policy are available to offer tailor made solutions. One can understand that the premium for the areas mentioned in the List of Areas of Perceived Enhanced Risk (listed areas) are significant higher then for those areas which are not listed.
