Kidnap & Ransom Insurance Plans
Kidnap & ransom insurance plans are designed to protect against financial losses that are associated with a kidnap for ransom, extortion, illegal detention, hostage situation, and/or hijacking incident - both domestically and abroad. In order to rescue the insured person as quickly and safely as possible, kidnap & ransom insurance plans typically provides coverage for things like:
Independent investigation of the situation
Negotiation of ransom
Arrangement and delivery of funds
Death or dismemberment
Who Should Buy Kidnap & Ransom Insurance?
In many areas of Latin America (i.e. Colombia, El Salvador, etc.), kidnapping is a major risk - particularly in war zones or terrorism hotspots. Expats, foreigners, and high-networth individuals (HNWIs), as well their families, are often targeted because they are perceived as having the funds available to pay off ransom demands. The risk is even higher for those who work in the public spotlight and/or in certain professions.
As such, a kidnap & ransom insurance plan can be a vital tool to mitigate against these risks. You should consider buying a kidnap & ransom insurance plan if you (or your employees) fall into the aforementioned categories. Even if the threat of kidnapping may not seem large, kidnap & ransom insurance provides much-needed peace of mind that you will receive support in the unfortunate event that a kidnapping occurs.
Find the Right Kidnap & Ransom Insurance Plan
If you don’t know where to begin, you’ve come to the right place. Pacific Prime Latin America works with leading insurers in the region to bring to you a wide range of kidnap & ransom insurance plans. Our insurance experts also work closely with you to understand your needs, provide you with a tailored plan comparison, and make sure you understand the ins and outs of your chosen plan.
To get started, contact us today!