BROWSE

Kidnap Insurance

What is 'Kidnap Insurance'

A type of insurance designed to protect individuals from the risk of kidnapping. Kidnap insurance often covers other events related to kidnapping, including extortion. In the case of a kidnapping, the policy holder is compensated for money paid as ransom, medical expenses, counseling or for accidental death of the kidnap victim.

Explaining 'Kidnap Insurance'

Kidnap insurance is more likely to be used for individuals or companies operating in high-risk areas. These areas tend to have higher rates of crime and a history of kidnapping workers employed by multinational firms. Some of the common high-risk areas include Nigeria, Haiti and Venezuela.

Kidnap Insurance FAQ

How does kidnap and ransom insurance work?

Kidnap and ransom insurance provides negotiators and eventual reimbursement, but the victims must pay the ransom using their own money before it can be refunded. A basic K&R policy typically covers ransom payment, loss of income, interest on bank loans, and medical care.

Which country has the most kidnapping?

It was Mexico in 2004, and Colombia in 2001. Statistics are harder to come by. Reports suggest a world total of 12,500-25,500/year with 3,600/year in Colombia and 3,000/year in Mexico around the year 2000.

What does Kidnapping for ransom mean?

The main purpose of ransom kidnapping is a payment (usually a sum of money) for the release of the hostage and the enrichment of the perpetrators.

Where did the term kidnap come from?

The original meaning of kidnap, dating from the late seventeenth century, was "steal children to provide servants to the American colonies," from kid, "child," and nap, "snatch away."

Why do kidnappers kidnap?

A stranger might kidnap an unknown child for: extorting a ransom from the parents for the child's return. Illegal adoption, a stranger steals a child to rear the child as their own or to sell to a prospective adoptive parent.

Further Reading


Biopolitics of specialized risk: an analysis of kidnap and ransom insurance
journals.sagepub.com [PDF]
… Mr Smith, for example, is prone to being kidnapped owing to the nature of his job, which requires … For Mr Smith, the risk of a kidnapping event is a professional risk that he needs to take … It results from considering the fact that the possibilities of a kidnap are highly probable and of …

Who wants to be a millionaire? Nigerian youths and the commodification of kidnappingWho wants to be a millionaire? Nigerian youths and the commodification of kidnapping
www.tandfonline.com [PDF]
… Mr Smith, for example, is prone to being kidnapped owing to the nature of his job, which requires … For Mr Smith, the risk of a kidnapping event is a professional risk that he needs to take … It results from considering the fact that the possibilities of a kidnap are highly probable and of …

Regional shortcomings and global solutions: Kidnap, ransom and insurance in Latin AmericaRegional shortcomings and global solutions: Kidnap, ransom and insurance in Latin America
heinonline.org [PDF]
… Mr Smith, for example, is prone to being kidnapped owing to the nature of his job, which requires … For Mr Smith, the risk of a kidnapping event is a professional risk that he needs to take … It results from considering the fact that the possibilities of a kidnap are highly probable and of …

Capitalizing on value: Towards a sociological understanding of kidnappingCapitalizing on value: Towards a sociological understanding of kidnapping
journals.sagepub.com [PDF]
… Mr Smith, for example, is prone to being kidnapped owing to the nature of his job, which requires … For Mr Smith, the risk of a kidnapping event is a professional risk that he needs to take … It results from considering the fact that the possibilities of a kidnap are highly probable and of …

Fluctuations between crime and terror: The case of Abu Sayyaf's kidnapping activitiesFluctuations between crime and terror: The case of Abu Sayyaf's kidnapping activities
www.tandfonline.com [PDF]
… Mr Smith, for example, is prone to being kidnapped owing to the nature of his job, which requires … For Mr Smith, the risk of a kidnapping event is a professional risk that he needs to take … It results from considering the fact that the possibilities of a kidnap are highly probable and of …

Governing kidnap for ransom: Lloyd's as a “private regime”Governing kidnap for ransom: Lloyd's as a “private regime”
onlinelibrary.wiley.com [PDF]
… Mr Smith, for example, is prone to being kidnapped owing to the nature of his job, which requires … For Mr Smith, the risk of a kidnapping event is a professional risk that he needs to take … It results from considering the fact that the possibilities of a kidnap are highly probable and of …

Use of kidnapping and extortion as a tool for financing terrorism: the case of the PKKUse of kidnapping and extortion as a tool for financing terrorism: the case of the PKK
www.tandfonline.com [PDF]
… Mr Smith, for example, is prone to being kidnapped owing to the nature of his job, which requires … For Mr Smith, the risk of a kidnapping event is a professional risk that he needs to take … It results from considering the fact that the possibilities of a kidnap are highly probable and of …

The Paradox of InsuranceThe Paradox of Insurance
papers.ssrn.com [PDF]
… Mr Smith, for example, is prone to being kidnapped owing to the nature of his job, which requires … For Mr Smith, the risk of a kidnapping event is a professional risk that he needs to take … It results from considering the fact that the possibilities of a kidnap are highly probable and of …



FAQ


How does kidnap and ransom insurance work?

Kidnap and ransom insurance provides negotiators and eventual reimbursement, but the victims must pay the ransom using their own money before it can be refunded. A basic K&R policy typically covers ransom payment, loss of income, interest on bank loans, and medical care.

Which country has the most kidnapping?

It was Mexico in 2004, and Colombia in 2001. Statistics are harder to come by. Reports suggest a world total of 12,500-25,500/year with 3,600/year in Colombia and 3,000/year in Mexico around the year 2000.

What does Kidnapping for ransom mean?

The main purpose of ransom kidnapping is a payment (usually a sum of money) for the release of the hostage and the enrichment of the perpetrators.

Where did the term kidnap come from?

The original meaning of kidnap, dating from the late seventeenth century, was "steal children to provide servants to the American colonies," from kid, "child," and nap, "snatch away."

Why do kidnappers kidnap?

A stranger might kidnap an unknown child for: extorting a ransom from the parents for the child's return. Illegal adoption, a stranger steals a child to rear the child as their own or to sell to a prospective adoptive parent.

Leave a Reply

Your email address will not be published. Required fields are marked *