Other potential covered costs include legal liability, fees for a professional negotiator, personal accident insurance, and travel expenses. Some policies will cover the expenses for a security consultant called in to investigate a threat, even if no ransom payment is necessary or no one is kidnapped. Chubb is aligned with Ackerman Group of Miami, Fla., which is on-call 24 hours via a hotline that Chubb customers can call to report a kidnapping. Within a day, representatives of the firm will be on-site, working closely with the client to ensure that all aspects of a kidnapping have been attended to. A quiet purchase Policy limits vary, depending on the company's size and the riskiness of its ventures abroad.
Insurance companies decline to discuss many kidnapping details, citing client confidentiality.
You don't find many companies without fire insurance, but you do see a lot who never buy kidnap and ransom insurance. After all, it sounds a bit extreme. You don't find many companies without, say, fire insurance, but you do see a lot who never buy kidnap and ransom insurance. Colombia leads the world in kidnappings. Colombian kidnappings are generally well-planned, professional jobs, often involving extensive research on the company, surveillance of the kidnapping target, and high ransom demands.