K&R policies do not pay the ransom on the insured’s behalf. It is reimbursement cover, that covers a loss incurred by the insured.
Importantly, a Kidnap and Ransom Insurance Policy pays for the fees and expenses of the consultant company appointed to manage the case.
The consultant will work hand in hand with the insured to ensure that the response to the incident is handled in the best way.
The insurer will assist in deploying consultants to the company and / or family of the employee or individual, and also to the country where the kidnapping occurred.
What is covered?
Kidnapping
Extortion
Home invasions
Stalking
HiJacking
Disappearance
Typical losses included
Ransoms
Loss of ransom monies in transit
Legal liability
Additional expenses
Threat Assessment
Child abduction
For more information visit
https://itoo.co.za/product/kidnap-ransom/
Remember to complete the proposal form and submit to fpretorius@mirrin.co.za
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