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SUMMARY Epic 1
 idnap &  ansom Insurance
Underwritten
by Lloyd's of London
Worldwide Assistance for
Kidnap and Ransom,
Crisis Assistance, Detention, Extortion
What Is Kidnap
Insurance?
Kidnap insurance provides numerous benefits and services to
the applicant and the insured. Most people believe that kidnap insurance is only a ransom
benefit. The following points are offered to provide you with a better understanding of
this type of coverage.
Kidnap
Ransom Coverage: is there REALLY a need?
January 10, 2007
This Travel Warning is being issued to
remind American citizens of ongoing security concerns in Haiti,
including frequent kidnappings of Americans for ransom. U.S. citizens
traveling to and residing in Haiti are reminded that there is a chronic
and growing danger of kidnappings. Most kidnappings are criminal in
nature, and the kidnappers make no distinctions of nationality, race,
gender or age; all are vulnerable. Over 60 Americans were kidnapped in
2006, most in Port-au-Prince.
April
26, 2005:
This Public
announcement is to alert U.S. citizens to the continuing unsettled public security
situation along the Mexican side of the US-Mexico border.
Violent criminal activity fueled by a war
between criminal organizations struggling for control of the lucrative narcotics trade
continues along the US-Mexico border. This has resulted in a wave of violence aimed
primarily at members of drug trafficking organizations, criminal justice officials and
journalists. However, foreign visitor and residents, including Americans, have been among
the victims of homicides and kidnapping in the border region."
U.S. State Department
What Does This
Plan Insure?
This coverage provides, as the basis for all of its
benefits, access to one of the premier crisis response organizations in the world. The
response team provides advisory assistance to the family or business with regard to
independent investigations, negotiations, arrangement and delivery of funds, and numerous
other services vital to a safe, speedy and satisfactory resolution.
Benefits and
Services Which are Typically Available:
Ransom money Informant money
Crisis management services Accidental death
Legal liabilities Rehabilitation
Personal security consultation Reward money
Negotiation services Family counseling
Loss of ransom in transit Medical services
and emergency evacuation
Interpretive and forensic services Business
security consultation
Crisis
Response Teams
Although ransom benefits appear to be the primary benefit,
the core benefit of any plan is the Crisis Response team that will assess and advise the
family or business. It is essential to have a response team that is experienced with both
the handling of incidents as well as the local political environment.
Some response companies hire their
services to anyone. Some are retained by an insurer. Some response firms are principally
investigation firms while others have anti-terrorist and hostage negotiation backgrounds.
Some response teams will assist the family or business while others do not want any
interaction with the insured's family or business. The EPIC Plan retains Control Risks
Group for immediate deployment. Control Risks interact with and advise the family and / or
the business. Members of Control Risks have diverse backgrounds including military and FBI
training. NO other response team has the extensive experience of Control Risks.
Control Risks is the premiere provider
of political risk assessment, crisis management, security management and investigative
services. Control Risks has competent and experienced personnel stationed within four
hours travel time of any spot on earth.
Aggregate Basis Vs.
Inclusive Basis
Some plans pay the expenses of the Response team directly
from within the benefits available. Therefore, if you purchase a $1 million ransom benefit
and the expense of the response team is $250,000, an aggregate basis benefit plan will
provide only $750,000 of ransom reimbursement.
The EPIC series provides the expenses
of control risks on an inclusive basis, thus, in our example above, there will always be
the $1 million ransom benefit available regardless of the cost of Control Risks.
Ransom Benefits =
Reimbursement
Ransom benefits, regardless of the policy issuer, will
always be on a reimbursement basis only. Why? There are two reasons:
1) It is illegal to
insure an unlawful event. As an example, you cannot insure an act of vandalism, but you
can insure expenses incurred as a result of the act of vandalism.
2) Negotiations. A
person may have a net worth of one billion dollars. If the money is all in real estate
except for $50,000 cash, in the absence of insurance, what would a family do? Raising the
$1 million would necessitate selling property, which could take months. Negotiations are
often hastened by access to "quick cash" even if it is less than the actual
demand amount. If a person has direct access to the full ransom amount, negotiations may
be comprised.
Our Kidnap and Ransom
insurance plans designed for providing not only money for ransom and reward, but the real
strength to any Kidnap/Ransom policy is the response team members who are ready to provide
on site management and assistance to the family or business of a kidnapped victim. These
experienced negotiators are usually successful in reaching a solution to the matter
without loss of life. Terrorists and kidnappers have an objective other than killing the
victim.
This Page
contains a brief summary of The Kidnap and Ransom Insurance Plan.
Report
of Kidnaps Around the World
To
obtain a custom quote, first
Click
here .
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