Lwood & Co Insurance Brokers Bingley

Business people making trips to high risk countries around the globe can put themselves at risk from kidnapping, ransom and other types of crises.

Over the last few years, a changing security climate within the UK has also made Crisis Management, Kidnap & Ransom Insurance relevant to those travelling within the country, as well as overseas.

Crisis Management, Kidnap & Ransom Insurance policies

Crisis Management, Kidnap & Ransom Insurance effectively provides a safety net when crises occur, covering costs which can arise in the process of calling upon specialised assistance; typically these are legal expenses and other costs which are not covered by any other policies.

Crisis Management, Kidnap & Ransom Insurance is a form of business insurance, and is typically taken out to cover personnel deemed the most valuable assets to commercial organisations. It is an extension of the duty of care which a company has to its workforce, including employees on overseas assignments, local nationals, subcontractors, and even their families. Crisis Management, Kidnap & Ransom Insurance can represent one of the key practical steps which companies take to meet their employees’ health, safety, security and wellbeing needs.

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Crisis Management, Kidnap & Ransom Insurance coverage includes the following:

  • Hostage crisis – if somebody enters a public or commercial space and holds an employee against their will, the policy would cover the response assistance from consultants which would be required, as well as other expenses.
  • Assault – if an insured employee is physically attacked on the policy holder's premises with a legal weapon, costs pertaining to an interruption of business, as well as extra expenses, are covered.
  • Threat – when a threat is made against an individual, ranging from the physical nature to a more psychological perspective whereby private and confidential information could have been obtained, help is typically needed from specialised consultants.

Crisis Management, Kidnap & Ransom Insurance can be key to covering the financial consequences of an individual being held against their will - be it via a siege, kidnap, hijacking or extortion. It should be noted that in the case of terrorist incidents where there's no siege or individuals being held, the policy would not be able to offer any assistance.

Claims Scenarios

Below is a list of summaried claims scenarios:

Threat response - United States

The receptionist at a small service company answers a call from a displeased customer. They threaten to blow up the office. No demands were made or response was requested by the caller.

Threat extension – Australia

Client receives threats from outside the business to harm employees. It subsequently became clear this was due to the client's company terminating a third party contract.

Hostage crisis – Brussels

A business director and store manager meet in a café. Three attackers enter the café carrying automatic rifles and tell the café manager to close. The director and store manager are among 36 people inside. The attackers demand that all military forces leave Iraq within 48 hours. News media broadcasts hostages escaping out of the café rear entrance before Belgium armed forces enter the café and declare the incident over. The director is confirmed as being wounded and the store manager is unharmed but emotionally traumatised.

Assault – UK

Two assailants forced their way into the offices of a media company, armed with assault rifles and other weapons. They injured 11 people.

Express kidnap – France

The director of a medium-size organisation travelling in France was grabbed while walking to his hotel. He was driven to an ATM machine and forced to take out money.

Could your company benefit from the peace of mind which comes with Crisis Management, Kidnap & Ransom Insurance? Call L Wood of Bingley, West Yorkshire, today on 01274 515747 for a free consultation.

Bespoke Insurance Solution

Every company is different and requires a Bespoke Insurance Programme to be suitable for their needs.

Risk Management

Our Health and Safety consultants can advise on managing your risks which in turn can reduce insurance costs.

Expertise

With over 50 years in the Leisure and Hospitality industry we can advise on the key risks that face your business and what you need to do to reduce them

The ever changing world of insurance is complex and L Wood & Co Ltd have consistently provided the correct advice on the levels of insurance required for many years together with an excellent claims service. Being a family business gives them a “down to earth” approach and their assistance has been greatly appreciated. We are more than happy to recommend them.


Roger Thompson

In an industry that is somewhat confusing with ever changing regulations, Tom and Kevin at L Wood & Co Ltd have consistently provided excellent advice on the levels of insurance we require. As a global company with offices across the world, our insurance requirements are specialised and they have always provided excellent service and good advice. I have no doubts in recommending L Wood to anyone that requires a tailored insurance programme.


Vicki Horsfield

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