Australia is among the top countries exposed to extortion. Whilst most instances do not become known to the public, many companies, such as Qantas, Mars, Panadol and Arnotts have suffered the financial effects of such demands.
Kidnap and hijacking, although not common occurrences in the lives of most Australians, are genuine risks to particular high profile companies, individuals and families.
Marsh, the world’s leading insurance broker and strategic risk advisor, arranges corporate protection (kidnap & ransom) insurance for those companies and individuals who require specialised, worldwide cover for these and other unique exposures.
Who do we cover?
As part of this specialised insurance facility, Marsh can arrange cover for:
Companies with personnel who travel or live overseas
High profile organisations and people (even if they do not travel)
Wealthy individuals
Families of all the above
What do we cover?
A Marsh Corporate Protection policy covers the following risks:
Kidnap
Ransom – payment and lost in transit
Extortion
Hijack
Detention
Response expenses – e.g. crisis manager and control risk group fees
Legal liability
Personal accident
Additional related costs – e.g. psychiatric care, rest and rehabilitation, forensics, cosmetic surgery
What additional coverage benefits are available?
The following cover extensions may be added to your policy.
Product loss – after recall, examination, destruction
Loss of earnings – after closure of premises
Computer virus – causing interruption to business
Emergency political repatriation – travel costs following expulsion from country or Government recommendation to leave
Threat response – where no extortion or ransom demand has been made
