Every year, thousands of people are kidnapped for ransom worldwide. Abductions can occur anywhere and at any time; no one is immune. A kidnapping may well be the most traumatic event in the lives of victims, their families and their friends. The costs – physical, emotional and economic – can be devastating.
All manufacturers are potentially vulnerable to a threat of product extortion. A threat of this kind could potentially be economically disastrous for any business.
Great American's Fidelity/Crime Division provides specialized protection against crimes of kidnap and extortion, when a demand for ransom is a condition of negotiation. Some advantages of a Great American Kidnap, Ransom & Extortion policy are as follows:
- We offer limits of liability up to $65 million.
- Customized coverage can be written for a corporation or individuals.
- Infant abduction coverage is also available for hospitals and daycares.
- $0 deductible.
- Coverage is provided for worldwide territories - no countries are excluded.
- Coverage includes the services of Control Risks, the industry’s most experienced crisis response team.
- Our policy provides unlimited fees and expenses for the services of Control Risks.
- Broad definition of insured with the ability to tailor coverage to meet the insured’s specific needs.
- We offer tailored coverage for hospitals, banks, academic institutions and houses of worship.
Who’s at Risk?
- Domestic firms with foreign travel patterns
- Businesses manufacturing a product
- Corporations with overseas contract work
- Students at schools and universities traveling abroad
- Wealthy individuals or families
- Multinational expatriates with foreign operations
- Establishments dependent upon public access such as concert halls, casinos, shopping malls and amusement parks
- Domestic companies with travel within the U.S.
About Control Risks
Great American Insurance Group's Fidelity / Crime Division has secured the services of Control Risks, the industry's recognized leader and most experienced response team. Under the terms of a Great American Kidnap, Ransom & Extortion policy, Control Risks will provide the immediate support of a fully-trained, experienced consultant to assist claimants. Control Risks provides advisory services during crisis events and assists in negotiations with extortionists and kidnappers. Control Risks has 32 locations worldwide to serve our policyholders.