Kidnap & Ransom Insurance
You're covered.
For the financial and emotional impact of kidnapping, extortion, and ransom demands.
Kidnap and ransom insurance (K&R) for superyacht owners is a specialised insurance policy designed to protect yacht owners, their family members, guests, and crew from the financial and emotional impact of kidnapping, extortion, and ransom demands. This type of insurance provides critical support and resources in the event of a kidnapping or extortion incident, ensuring that the affected parties receive the necessary assistance to secure a safe and successful resolution.
Kidnap & Ransom Insurance
Key Features.
The following shows the standard key features for our Kidnap & Ransom Insurance policies. Yet, at Superyacht Insurance Services, our products and service are anything but standard. We will work with you to design and build a bespoke policy that is uniquely tailored to you and your superyacht.
Ransom Payment Coverage
Ransom Reimbursement
Covers the cost of ransom payments made to secure the release of kidnapped individuals.
Loss of Ransom
Provides coverage for the loss of ransom money during delivery, including theft, destruction, or misplacement.
Extortion Coverage
Extortion Threats
Covers demands for money or other valuables under threat of harm to individuals or property.
Cyber Extortion
Provides coverage for extortion threats involving cyber attacks, such as threats to release sensitive information or disrupt yacht operations.
Response and Crisis Management
Crisis Response Team
Provides access to experienced crisis response consultants who assist in managing the incident, including negotiation and safe resolution strategies.
Emergency Response Costs
Covers expenses related to managing the kidnapping or extortion incident, such as travel, accommodation, and communication costs.
Additional Coverage Elements
Medical and Psychiatric Care
Covers medical and psychological care for victims and their families during and after the incident.
Legal Fees
Provides coverage for legal expenses incurred during the incident, including legal advice and representation.
Public Relations Expenses
Covers the cost of public relations services to manage media attention and protect the reputation of the yacht owner and associated parties.
Security Consulting and Training
Preventative Training
Offers training for yacht crew and family members on how to avoid and respond to kidnapping and extortion threats.
Security Consulting
Provides access to security experts who can assess risks and implement preventative measures to enhance safety and security.
In conclusion.
Let's talk.
Kidnap & Ransom Insurance is a vital aspect of a comprehensive risk management strategy for superyacht owners, offering essential protection against the financial, emotional, and reputational impacts of kidnapping and extortion incidents. By securing this type of insurance, yacht owners can ensure they have the necessary resources and support to navigate and resolve these high-stress situations effectively, safeguarding the well-being of everyone on board and maintaining the overall enjoyment and safety of their yachting experience. If you’d like to arrange cover, please get in touch.
