FGIB:Protect Your Organization and People with Kidnap, Ransom & Extortion Insurance

Each year, kidnappers rake in an estimated $1.5 billion in ransom payments with an estimated 15,000 to 20,000 reported kidnappings taking place globally. Among the prime targets are wealthy businessmen and their families and professionals here at home and traveling abroad. This includes those in the financial sector, such as banks and thrifts and securities firm, and businesses of all types including IT firms, healthcare firms, and non-profit organizations. Financial Guaranty Insurance Brokers (FGIB) provides flexible Kidnap, Ransom & Extortion (K&R) coverage, along with crisis management services, in the event of an incident through our top-tier insurers, to protect you and your valuable employees.

FGIB: An Experienced Hand at Work

Our K&R coverage can be tailored for a wide range of businesses. Coverage can be designed to include:

  • Kidnap ransom or extortion payment, including cyber extortion
  • Ransom delivery
  • Legal liability
  • Reasonable expenses incurred in connection with a kidnapping, extortion threat, hijacking, political threat, or wrongful detention
  • Independent security consultant
  • Business interruption
  • Accidental death and dismemberment
  • Emergency political repatriation
  • Disappearance investigation expense
  • Express kidnapping
  • Hostage crisis

The policy can cover the company, its directors and officers, and full-time, part-time, seasonal, leased, and temporary employees, relatives of employees, and any person retained to deliver a ransom, among others. Depending on the plan, K&R may cover: medical, cosmetic, dental, rehabilitation and psychiatric care; loss of income; personal financial loss; childcare, and, in the worst cases, funeral expenses.