When thinking about insurance, the last thing you might expect to need is coverage for kidnap and ransom. Kidnap and extortion have long been a feature of Africa’s challenging criminal environment – with some of the higher risk countries being Nigeria, Mozambique, Kenya, DRC and Angola. It is also increasingly becoming an epidemic on a global scale. Even so, Special Risks such as these are a small subset of many companies’ concerns.
Kidnapping for ransom is a lucrative business for perpetrators and the shortest means to wealth by those involved in this crime, and as a result should be an important concern for companies, especially if they are operating internationally and in regions which are prone to kidnappings.
“K&R covers all employees of a company and their direct family members,” says iTOO MD, Justin Naylor. “If people are a company’s most important asset, then that company should really purchase K&R insurance.”
As businesses continue to grow their global footprint or operations across continents, companies find themselves operating in many of the most volatile parts of the world. Which is why it’s critical to ensure they have access to experts who are positioned to offer them the foremost technical expertise and service at the most critical times.
iTOO’s K&R insurance cover aims to reduce intricate situations by providing protection from the financial consequences of a kidnapping and extortion attempt. Our partnership with Unity Advisory Group as our expert consultants, enables us to provide in-country crisis response for kidnap related scenarios anywhere in the world with local negotiators who understand how to operate on the ground.
“Unity Advisory Group has local African based consultants and together with iTOO they provide expert solutions tailored for the African continent,” says Head: Africa, Dale Sutton-Pryce.
With iTOO’s Kidnap and Ransom Cover you are covered for kidnapping, ransom, hijacking, home invasion, political and natural catastrophe evacuation, threats and more. This cover assures you of protection against financial loss in over 20 events as well as direct access to the Unity Advisory Group and On Call International as both your consultants and service providers.
“With 20 number of events covered under our Special Contingency policy, you would have to ask yourself, why wouldn’t I take out this cover?” comments K&R expert, Catia Folgore. “This policy provides coverage and peace of mind for so much more than just Kidnap and ransom.”
Corporate and Commercial Clients in most industries such as financial services, mining, telecoms, hotels, schools, construction, media, professional services, retail, manufacturing in and particularly if they are travelling into Africa or high risk countries, face an increased risk of kidnap or extortion threats. In this instance, our K&R policy can cover them for incidents such as:
- Workplace Violence
- Kidnapping
- Emergency Political or Natural disaster evacuation
- Terrorism
High Net Worth Clients that are wealthy individuals, directors of companies or people with public profiles are also vulnerable and can also be covered for incidents such as:
- Home invasion / Hi-jacking
- Express kidnapping
- Extortion
- Stalking
- Threats
- Disappearance
Our Consultants attended to 356 number of kidnappings last quarter in Africa alone. Employees and their families can be exposed to high risks and can become targets for Express kidnappings, Home invasions, Stalking, Child abductions and more.
Kidnap and Ransom during COVID-19
Every incident is different to the rest, but in the hands of skilled consultants, the expenses and costs of a Kidnap or Extortion situation are greatly reduced. Most importantly, the possibility of the victim surviving the ordeal will be greatly increased.
At iTOO we understand these potential hazards especially now during this pandemic, so together with an independent crisis consulting company known as Unity Resources Group, and On call international, we can assist individuals and businesses to:
- Recognise, assess and mitigate potential risks by risk assessments
- Develop/add to and implement crisis management plans by reviewing current plans
- Test and train crisis management teams and employees
- Plan for and cope with crisis response situations
- Security Awareness and travel security training
- Table top exercise including KNR simulations and workshops
With 13 retained consultants globally and one based in South Africa with extensive knowledge of Africa, we can arrange telephonic/webex/online portal training and advice to assist in lowering travel risks, as well as advising on security issues, cultural factors and travel logistics.
Preparation and robust prevention plan is essential, so you need to know Who is part of your crisis management team, Who will be dealing with the press and authorities and Who will be the spokesperson for the family. These and other questions will be found in your crisis management plan developed and assisted by Unity Resources Group.
