City Skyline

Crisis Management and Global Security Risks

Kidnap & Ransom / High Risk Personal Accident

Companies with employees who are travelling to high-risk areas prone to kidnapping or political instability should consider Kidnap & Ransom and Personal Accident insurance. Senior executives of larger companies and wealthy individuals and families are also exposed to kidnap risk even in relatively benign countries. Coverage typically includes:

  • Crisis response costs including professional negotiation expenses

  • Ransom

  • Repatriation costs

  • Personal injury compensation

  • Life insurance

Political Violence, Terrorism and War Risks

Property insurers will often exclude claims arising from property damage and business interruption caused by political instability, terrorist activity or war. Specialist policies are available that include combinations of coverage to protect against:

  • Strikes, riots and civil commotion

  • Terrorism

  • Piracy

  • War and civil war

Product Recall

Any company that sells physical products may be faced with the potentially catastrophic costs of recalling a faulty product from distributors, retailers and end customers. In some cases, faulty products may have the potential to cause bodily injury or property damage, so the recall will need to be executed as quickly as possible. Products may not necessarily leave the manufacturing facility faulty, but may suffer from malicious tampering; however, the manufacturer or the retailer will still need to withdraw all potentially-affected products. Product recall can be purchased in conjunction with product liability insurance or on a stand-alone basis. Coverage can include:

  • Physical recall costs

  • Destruction costs

  • Public relations / loss mitigation costs

  • Loss of profits / business interruption