To discuss Personnel Risk Insurance contact Paul Holman atl 905-886-5630 or toll free at 1-800-567-1279.



WHAT ARE THE RISKS ?

Extortion
Extortion is no longer a problem confined to Africa and South America. It's increasingly prevalent in the UK, Ireland, Continental Europe and other developed markets. Extortion threats of damage to property or bodily injury are rising, while terrorism through computer viruses is a very real risk for today's businesses.

Kidnap & Ransom
Executives traveling or working overseas are increasingly at risk from kidnap or ransom by local mafia and criminal gangs. In many countries the kidnapping of Westerners has become a business in it's own right and the demands made can be huge. Even in the UK and Ireland, there have been a number of reported kidnaps of employees or their families, often to facilitate a robbery. (For more information, please visit our Professionals section on Kidnap and Ransom)

Emergency Evacuation & Wrongful Detention
In certain parts of the world, the political situation can deteriorate almost overnight. A Company's employees may have to take the first plane out of a country to avoid spiralling instability. Expatriates may need to sit things out for weeks or even months before it's safe to return. In some countries, businesses may find their employees are victims of wrongful detention or the threat of it, for political or commercial reasons outside of their control.

WHAT ARE THE CONSEQUENCES?
The consequences of Extortion, Kidnap or Emergency Evacuation can be financially severe for the business and extremely traumatic for the victim, family and colleagues:

• Extortion attempts usually involve demands for substantial financial payments
• Product contamination or just the threat of it could entail significant costs from the recall of a Company's products, business interruption and loss of reputation
• Payment of hundreds of thousands, even millions, of pounds may need to be paid to secure the release of a kidnap victim
• A kidnapping invariably has financial consequences way beyond what might ordinarily be expected, for example consultants fees, and medical, travel, legal and accommodation expenses
• Death or physical injury may be inflicted on a kidnap victim
• Emergency evacuation of expatriates can involve considerable travel and accommodation costs.
• Companies who mishandle extortion or kidnap incidents face the prospect of expensive litigation from victims, families, customers and/or shareholders.