Aon | Financial Services Group
Kidnap, Ransom and Extortion
A more volatile and complex world requires serious attention to kidnap, ransom and extortion (KRE). Every corporation, especially businesses with global operations, should protect themselves and their employees against the risk of KRE. The cost of coverage is reasonable when compared to self-insurance and an inability to access response support when required. We can arrange KRE insurance products from a wide range of insurers, offering a broad choice of price, coverage and response consultants.
Understanding the Evolving Nature of Kidnap and Ransom Risk
February 2023 - Matt Boynton, Edward Johnson and Nicola Willison from the Kidnap, Extortion and Threat Response Team for Control Risks discuss the evolving nature of kidnap and ransom risk and provide useful tips for loss prevention with Cara LaTorre from the Financial Services Group at Aon.
Our job is to help you better manage risk volatility. Our relationships within the KRE insurance marketplace have been carefully nurtured to maintain high-level communication, credibility, trust and respect. Aon maintains strong lines of communications with global practice group leaders at industry-leading insurance carriers and at crisis management firms. In addition to a keen focus on coverage terms, we believe that crisis response, product training, incident prevention and insurer claims capabilities are critically important.
Coverage
We are a market leader in the creation and design of KRE coverage. This coverage typically addresses kidnap, extortion, detention and hijack, but can be extended to include loss of earnings and hostage crises.
Aon’s best-in-class KRE coverage design will include:
- Broadly covered person’s language carefully tailored around an insured’s unique requirements
- Emergency evacuation for both travelers and expatriates
- Loss of earnings caused by a covered incident
- Threat coverage
- Missing persons
- Express kidnap
- Virtual kidnap
- Expanded definition of ransom
- Assault coverage
- Child abduction
We are also able to arrange custom coverage for political repatriation, hostage crises, tiger kidnapping and disappearance, and expenses associated with malicious threats.
Training
We provide targeted coverage training for key stakeholders within the organization, including your firm's risk management and corporate security teams.
Claims Management
Aon offers a dedicated claims management service for insured incidents and can act on your behalf to seek swift and efficient financial settlement.