Kidnap and Ransom Insurance – Protecting individuals and companies operating worldwide

February 20, 2020

The reality of today is that risk is everywhere, with the distinction between safe destinations and dangerous ones becoming ever-more blurred. This, in turn, can be a real concern for companies and their employees when business travel is a fundamental part of their job role.

There are approximately 40,000 kidnappings every year and over 40% of these are of business personnel or their dependants (ITIJ, 2017). So, when employees are embarking on business travel, employers need to further extend their Duty of Care and ensure their employees are fully protected from the potential threats ahead. Unfortunately, this more commonly can often mean kidnappings in an increasing number of their employees destinations, however, sometimes it can be difficult to find cover and the process can often be lengthy and expensive if you go through Lloyds of London. That’s where Voyager Insurance Services can help you deliver the protection of Kidnap and Ransom cover for your customers.

Voyager Insurance Services are one of the only companies outside of Lloyds of London that offer Kidnap and Ransom Insurance and we don’t charge any additional fees for processing Kidnap and Ransom quotes and applications. Historically via traditional means, Kidnap and Ransom Insurance applications can be tedious to put in place and can often be quite time consuming but that’s where Voyager Insurance can assist in making it clear and simple.

Voyager Insurance Services’ Kidnap and Ransom Insurance can offer protection in many areas specifically relating to the dangers and realities of kidnappings whilst working or travelling overseas. Popular elements of this cover include Ransom monies paid or lost in transit, Ransom delivery, Consultation and negotiation costs and Salary continuance.

Other features of Kidnap and Ransom Insurance are:
• Additional care expenses.
• Additional travel and accommodation costs of a replacement employee.
• Personal Security specialist expenses.
• Payment of replacement employee salary.

Assistance and support is also provided through:
• Expert crisis management and response consultants.
• Expert hostage retrieval negotiators.
• A network of response teams and security professionals all over the world.
• In-country assistance.

Kidnappings can occur anywhere in the world but some of the ‘high-risk’ areas are:
• Warzones
• Conflict zones
• Areas suffering from political or social unrest
• South and Latin America, Asia, Eastern Europe and many others.

Voyager Insurance Services’ Kidnap and Ransom Insurance provides specialist cover to any country across the world (subject insurer approval) and all occupations and professions will be considered. Kidnap and Ransom Insurance can be purchased stand alone for a Single Trip or on an Annual Policy for multiple trips. It can also be added on to a multi-cover packaged policy which can include your essential travel insurance requirements but also War & Terrorism cover, Personal Accident and Natural Disaster Evacuation Insurance. This policy works particularly well alongside Voyager Insurance Services High Risk Voyager Travel Insurance.

If you already have a Voyager Insurance Services agency agreement, you can access the Kidnap and Ransom application form through your Voyager Insurance WEBroker Dashboard within High Risk Cover or call Andy Moles on 01483 543 508 for a quote or further information.

If you don’t have an agency agreement with us or If you want further information then contact our Agency Development Executive, Alex today! Call 01483 806 906 or email acamp@voyagerins.com to request your agency agreement now!