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Corporate application
Corporate Policy wording

Family application
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Please e-mail completed application to:
info@black-fox.com
or Fax to 610-586-5467

Defense Base Act.net
Special Risk Insurance Brokers
1.800.877.2445 /  610.461.6690  / Fax 610.586.5467
A Black Fox International company

info@defensebaseact.net

 

Reward in business comes from taking risks but the most successful businesses are those that analyse their risks carefully and take steps to protect against them. It would be relatively straight forward if companies were exposed only to day to day commercial and competitive threats, however many business hazards today are far more difficult to protect and quantify.
 
 
 Kidnap Extortion and Detention are real dangers for companies operating both overseas and in domestic markets. They are often overlooked by management on the grounds that "it won't ever happen to us", but the damage this can inflict on a business can be very severe - as the annual roll call of corporate and individual victims around the world testifies.

COVERAGE
Kidnap/Alleged Kidnap 
Bodily Injury Extortion 
Property Extortion 
Product Contamination Extortion 
Trade Secret/EDP Extortion

COVERED LOSSES
Ransom Extortion Monies 
In-Transit /Delivery 
Expenses 
Judgements, Settlements, Legal Cost 
Death And Dismemberment 

CAPACITY
$100,000,000

DEDUCTIBLE
Usually None 

TERRITORY
Worldwide

PREMIUM RATING
Revenue of the Insured 
Location of Covered Person(s) 
Profile and Prior Incidents 

EXPENSES
Consultants 
Salary Expenses 
Personal Financial Loss 
Medical Costs 
Rest & Rehabilitation 
Travel & Accommodations 
Loan Interest 
Reward 
Interpreter 
Forensic Analysis 
Other Reasonable & Necessary Expenses 

ENDORSEMENTS
Evacuation 
Business Interruption 
Products Recall 
Value of Products 
AD&D/Terrorism 

Kidnap Outcomes
Most kidnaps are carried out in order to obtain a ransom, and in most cases a ransom is paid. Rescues are rare, largely because the authorities in most countries recognise that the safety of the victim is paramount. While the average occurrence of deaths following a kidnap is 9%; this almost always is at the time of abduction rather than during the negotiation.

Kidnap Demands
Demands can be huge, with more than 14 countries recording cases of $25m or more in recent years. Kidnappers usually settle at between 10 and 20 per cent of the demand, except in the old Soviet Union where the Mafia is extremely reluctant to negotiate and uses excessive violence to achieve its aims.

Kidnap Payments
While most ransom payments are kept confidential, we are aware of some substantial sums that have been paid. Latin America features heavily in the list, but many of the largest settlements have been made in Europe. Recent years have seen a noticeable increase in average ransom payments.

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Defense Base Act.net
P.O. Box 1187
Sharon Hill, PA  19079
800-877-2445 / 610-461-6690 / Fax 610-586-5467
info@defensebaseact.net

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