1. Mexico, May 1994: A Mexican billionaire Alfredo Harp Helu was kidnapped and held hostage for over 100 days. Harp was released when a ransom believed to be $30.7 million was paid.
2. Guatemala, January 1996: A close relative of the owner of a Guatemala City based manufacturing firm disappeared while on the way to work. Later that same afternoon, the victim's family received a call from a group demanding a ransom of $2 million for the victim's safe return. Negotiations resulted in the victim's safe return after a payment of approximately $100,000.
3. Germany, April 1996: A wealthy German industrialist was kidnapped from his home in Hamburg, Germany. After two failed attempts to deliver the ransom payment, family members contacted a Crisis Management Team (CMT) for assistance. This Crisis Management Team coordinated a successful ransom pay-off and the victim was released the following day unharmed. The kidnappers received a $20 million ransom payment, the largest in German criminal history.
4. United States, March 1996: A branch manager at a local bank in the South was taken hostage along with her husband and teenage son. The victim was forced to drive to the bank and empty teller drawers, the ATM machine, the head teller vault and motor bank teller drawers. The victim turned over $325,000 to kidnappers at a nearby parking lot where the assailants had wired her husband with a fake bomb. Kidnappers told the woman that her husband would be blown up if she did not comply with their demands. The family was unharmed and the kidnappers escaped.
5. Northern Mexico: A U.S. based executive of a Japanese firm is kidnapped while on a business trip in Northern Mexico and held captive for a week: The ransom paid: $2 million.
6. Germany: A wealthy tobacco heir is kidnapped in Germany and held captive for one month: The ransom paid: $19.8 million.
7. Sana, Yemen, November 1993: U.S. diplomat Haynes Mahoney was abducted November 25, 1993, in Sana, Yemen. He was freed on December 1, 1993.
8. Manila, January 1992: Michael Barnes, Vice President and General Manager of Philippine Geotherman, Inc., was kidnapped in Manila on January 17, 1992 and held more than 60 days before being rescued in a bloody shoot-out.

Crisis management program

Many companies develop a Crisis Management Program to respond to kidnappings and other similarly threatening events. In general, crisis management involves a plan for resolving emergency situations that confront an organization. Although risk managers can use a crisis management plan to respond to a kidnapping, companies are often limited in terms of what they can actually implement. Generally speaking, these security measures are limited to hiring security guards and installing electronic surveillance equipment. Ironically, the sophisticated electronic security systems that some companies use can also lead to an increased risk of kidnapping. For example, the London Financial Times reported that perpetrators of industrial espionage and corporate theft are finding it safer and more expedient to accomplish their crimes by kidnapping the company's upper or middle manager acquainted with the firm's security system or a member of the manager's family. The kidnappers then force the employee to help them bypass the security system so they can commit their crimes without fear of detection. Although such security measures may provide some protection, safeguarding a company against kidnapping and solving an abduction once it has occurred requires the assistance of specially trained experts. Because of these limitations and as a result of the turbulent global political situation, insureds facing these hazards opt for a kidnap-ransom-extortion policy. Our purpose here will be to describe the pertinent insurance coverage features, provide a discussion of who is at risk and describe some loss control methodology.

Modern kidnap insurance began shortly after Charles and Ann Morrow Lindbergh's baby was kidnapped by Bruno Hauptmann in 1932. The kidnap policy has been said to be "much more than a simple funding mechanism for paying off a ransom demand". The insurance was designed and developed at Lloyd's of London. Today, in addition to Lloyd's, there are several other sources for the coverage such as Chubb, Cigna, AIG, PIA (MGA for London and Reliance) and Gulf (as a fronting company for London through a J&H Marsh & McLennan facility).

Kidnap and ransom policies

Most kidnap and ransom policies contain insuring agreements for the following four basic hazards:

1. The primary clause, extortion coverage, applies to ransom payments made as the result of kidnapping an insured person as described in the applicable policy, and the spouse, relatives or other household residents or guests of the insured person and guests or customers at the insured's premises. Insured persons are typically described on the schedule as "all directors, officers and employees of the insured, unless otherwise specified, and their families".
2. The second insured event, Extortion Bodily Injury, reimburses the insured for monies paid following the receipt of a threat to kill or injure an insured person, relative or guest. This coverage differs from that of a kidnapping in that the person threatened has not been abducted as is the case of a kidnapping. Corporations are more apt to fall victim to personal injury or property damage extortion wherein an extortionist demands recompense for not harming a person or property, than to kidnappings. However, the corporation has more latitude in dealing with the extortionist because in a personal injury or property damage extortion situation, the person or property threatened is still under corporate control and steps can be taken to protect him or her.
3. The third insured event, Extortion Property Damage, reimburses the insured for monies paid following the receipt of a threat to cause physical damage or loss to the insured's products or property, including property for which the insured is legally liable. This section of the policy often provides coverage for threats to introduce a virus into a computer system or to reveal trade secrets as well as threats to produce publicity that the insured's products will be (or have been) contaminated, polluted or altered by persons who demand payment as a condition for not carrying out such a threat.
4. The fourth insured event, Wrongful Detention, involves incidents in which an insured person is held under duress for any reason, whether by legal authorities or by others. Some policies differentiate wrongful detention from kidnapping by defining the former as a peril involving the confinement by anyone acting on behalf of a governmental entity or any other "insurgent party, organization or group.

Noteworthy is the fact that each carrier in the marketplace approaches this coverage differently, as such policy forms differ from carrier to carrier. The intentions are essentially the same, but subtle differences do exist between the forms. For example:

• Some policies contain a provision to pay for the death and dismemberment of the kidnapped person as part of their insuring agreement and others add this coverage by way of an endorsement.
• Actual consequential personal financial loss suffered by an insured person because of the inability to attend to personal financial matters (i.e., failure to exercise stock options or renew insurance policies) during a kidnapping are part of the expenses coverage under several policies but is offered as an optional coverage under others.
• Hijack coverage and political threat coverage are offered as standard coverage under some policies and are either not offered at all or offered by way of an endorsement under other policies.
• Some policies provide coverage for the crisis response service expenses, without limitation, while others provide this coverage subject to an applicable policy limit.
• Several forms include a waiting period and a maximum time limit under the salary continuation coverage extension while others (i.e. - PIA's form) do not.
• Medical, psychiatric and legal expenses incurred by an insured person following their release can range for up to 12 months on some forms and up to 24 months on others.

The policy also includes the services of a security consultant and other specialists. Typically, these consultant firms are on permanent retainer by the insurance company and are accessible only to the insurer's clients. For example, Corporate Risk International (CRI) is on exclusive retainer to PIA and is on call 24 hours a day to provide emergency assistance anywhere in the world. Other well known crisis management organizations are Kroll Associates, Control Risk Group (CRG) and the Ackerman Group (TAG).

Due to their expertise in dealing with kidnapping cases, these consultant organizations are the most essential component of the kidnap insurance policy. The consultant companies generally include kidnapping experts and professionals with extensive knowledge of the relevant legal issues in the country where the kidnapping took place and family counseling services; and since kidnapping specialists know and understand the dynamics of kidnapping and are familiar with local laws and customs, they will be able to act swiftly to mobilize international resources for solving the case. When a kidnapping occurs, these crisis management organizations generally control the case.

What are some ways that the security consultants can assist the company? Security consultants can help the company in the following ways:

1. A kidnapping consultant can help the client company develop crisis management teams that will be authorized to make decisions during the case. Generally, these teams will consist of individuals from the client company's corporate level and will be implemented at the company's headquarters as well as in each foreign subsidiary.
2. Security consultants can also assist the company in Loss Control by continuously monitoring the sociopolitical conditions of the local country to determine if the client company is vulnerable to kidnapping; by offering safety training seminars to top executives; and enforcing security checks at their client's facilities.
3. Security consultants can potentially reduce emotional distress exposure through counseling and guidance for the kidnap victim's family. Throughout the investigation, the specialist will be able to inform the victim's family about particulars related to the kidnap investigation, while providing them with counseling and support. Law enforcement agencies will be of little help to the family in this regard as they usually keep information uncovered during an investigation confidential until they have built a case against their primary suspects. As a result, they will be unable to provide much information to the victim's family.
4. When a kidnapping occurs, the security consultants will have the expertise needed to negotiate for the hostage's release. This can be accomplished by helping the company maintain steady communications with the kidnappers, advise their clients of the financial and other concessions that should be offered in response to the kidnappers' demands and, when a ransom settlement is reached, suggest methods for delivering the ransom monies.

There also are a number of other reimbursement items included, or made available, by most kidnap policies. They are:

1. Reward monies paid to an informant for information not otherwise available which leads to the arrest and conviction of parties responsible for a covered loss;
2. Interest costs if the insured must borrow funds to pay a loss covered by the policy;
3. Salary continuation for an employee who has been kidnapped;
4. Actual consequential personal financial loss suffered by an insured person because of the inability to attend to personal financial matters;
5. Legal fees incurred in the investigating and/or settling of a claim or suit brought against the insured entity alleging negligence or incompetence in negotiating the release of an insured person; and
6. Transit: Provides broad form all risks coverage (including confiscation) for ransom/extortion monies while being delivered to the perpetrators.

Note: Generally, this group of expenses are covered by a separate policy limit. For example, Chubb offers limits up to $25 million and the policy limits apply separately with respect to their five insuring clauses: Extortion, Delivery, Expense (such as those described above), Legal Liability and Political Threat.

There also are several policy options:

1. Accidental Death and Dismemberment provides a schedule of benefits paid in the event that a victim suffers death or injury following a kidnap or an attempt threat.
2. Business Interruption provides coverage for loss of earnings as a result of the interruption of business operations due solely to a loss covered by the policy.
3. Recall/Destruction Expenses provides reimbursement of expenses incurred in recalling and destroying the insured's product - necessitated by a covered extortion demand involving a threat to pollute or contaminate such products.
   (One should note however, that both K&R and Malicious Product Tampering (MPT) policies are needed to cover the full range of exposures facing clients in connection with actual or threatened product contamination. One shortcoming of the K&R policy is that a product contamination incident may not be accompanied by an extortion demand necessary to trigger the K&R policy. It is for this reason, specifically, to fill this coverage gap, that Malicious Product Tampering and Accidental Product Contamination coverages were designed. On the other hand, a K&R policy may reimburse the insured for a broad range of expenses incurred in resolving the crisis that are generally not provided under a MPT policy. Additionally, by the terms of most K&R policies, an insured may collect four times the policy limit (separate limits for each covered part) for a single loss. Finally, there is generally no aggregate limitation applying to a K&R policy. By the provision of MPT policies, the basic policy limit is also the aggregate limit per loss and is also the annual aggregate limit.)
4. Value of Product coverage is generally written in conjunction with Recall/Destruction expense coverage and provides protection for the value of the product that has been destroyed as a result of a covered extortion demand involving a threat to pollute or contaminate such products.
5. Infant abduction provides reimbursement for a variety of expenses incurred in connection with the abduction of an infant from the premises of a hospital or clinic without a ransom or demand.

What are some typical policy exclusions? Because of the unusual circumstances surrounding this type of policy, there are several situations in which the policy does not perform. The first exclusion is fraud. No payment is made in the event of fraudulent or criminal acts on the part of the insured. Furthermore, some jurisdictions may declare that payment of ransom monies is illegal. In this case, the exclusion does not apply if the insured goes ahead and pays the ransom, without regard to the local ordinance. Money surrendered off premises must not be on a "spur of the moment" basis and the demand for payment must have been previously made and communicated to the insured.

With respect to Wrongful Detention, the following exclusions may apply:

1. Failure to maintain proper visas, permits or other documentation;
2. Detention which lasts less than 24-hours;
3. Detention related to an act of the insured person considered criminal;
4. Policy does not cover members of a governmental or law enforcement organization or the military; and
5. Traveling to a country after the State Department, or other such authority, orders the evacuation of American citizens from a certain country (assumption of risk).

Are there any other important features of the kidnap policy? The simple answer is yes; however, keep in mind that these policies are not uniform and each form has something different. A K&R policy is an indemnification policy, not pay on behalf of; therefore, the insured must actually approve payment of the ransom before the policy pays. Some policies also require three things in case of a kidnapping:

1. The insured must attempt to discover if the kidnapping has actually occurred.
2. The insured must notify the insurer immediately, with periodic updates.
3. The insured must notify law enforcement, if it appears to be in the insured's best interests.

A rather interesting general condition is that the insured and all persons insured by the policy must keep the existence of the policy confidential. One important reason being that the kidnappers might make higher demands if they knew of the existence of such coverage. Also, the potential for fraud and collusion between police and criminals, and even hostages themselves is great. In Latin America, Kidnap and Ransom insurance is considered non-admitted coverage with local carriers not licensed to provide the coverage.

The expenses, such as reward money and negotiation fees, have separate limits from the actual ransom amount. Also, K&R policies are "occurrence based" policies generally providing a claim reporting requirement within the occurrence based policy and the policies are typically written on a multi-year (generally 3 years) basis.

Who is at risk?

Banks and Saving and Loans institutions with their large sums of cash have always been potential targets for robberies; however, in recent years, an increasingly desperate and sophisticated criminal element has resorted to kidnapping and extortion as a means of accessing bank cash reserves. Viewed by many criminals as safer than armed robbery, kidnappings and extortions involving bank employees and their families are happening with alarming frequency. The most common crime scenario involves the off premises abduction of an employee, or his/her family, and the subsequent demand for cash from the employee's workplace.

In the past, executives of financial institutions relied on their financial institution bond to provide coverage for these types of hazards; however, executives re-examining the provisions of this coverage are finding that many bond forms do not provide coverage for all four types of incidents that are of primary concern to banks and S&L's, namely: Kidnap, Extortion-Bodily Injury; Extortion-Property Damage and Detention. Some of these coverages can be added to the bond by endorsement for an additional premium. Additionally, most bond forms provide only minimal coverage for consequential losses and expenses that follow a kidnapping, extortion or detention. Finally, the most serious shortcoming of the kidnap and extortion coverage on financial institution bonds is the lack of access to a worldwide crisis response team available on a 24-hour basis. While some bond forms may reimburse an insured for "any reasonable crisis response expense" approved by the carrier, it is the ability to get an immediate response from a "pre-approved" security consultant that is advantageous.

American corporations, perceived to be vast repositories of wealth, are at risk for kidnappings. The search for potential kidnapping victims associated with U.S. companies is known as "logo hunting". Large fortune 1000 companies, corporations with a high profile product or executive and companies requiring their executives to frequently travel to volatile locations are considered ideal targets. Topping the list of major suspects in any U.S. corporate kidnapping are current and former disgruntled employees, followed by criminals and hoodlums, then terrorists and religious zealots.

Hospitals also face a growing threat from infant abductions. The Hospital Council for Southern California reports that infant abduction takes place in about four out of every 200,000 births. Usually the abduction occurs for some reason other than money, mostly to replace a lost infant or to experience a "vicarious birthing" of a child the abductor is unable to conceive. The victim is usually seven days old or younger, is perceived by the abductor as their newborn and the race/skin color of the abductor and the infant is usually the same or reflects that of the abductor's companion. The abductor is usually female, usually overweight, generally has no prior criminal record and will often visit the nursery prior to the abduction asking detailed questions about hospital procedures and unit layout.

The following are some control preventative measures for hospitals:
Take footprints of each infant. A full written description of the infant should be kept with the photograph and entered as part of the infant's medical records. Ensure all hospital personnel (including senior management) wear conspicuous photo ID cards. Identify and use a distinctive code for those authorized to handle infants. Anyone transporting the infant outside of the mother's room must wear an identification wristband. Ensure that infants are always supervised by either the mother or the nursing staff. Require visual proof of the identification wristband for a person taking the infant home from the hospital, matching the child's bands with those of the parents. Infants should be taken to mothers one at a time rather than in a group in the corridor. Mark infant T-shirts or gowns at the throat with the hospital name and logo. Infant blankets should be marked on all four corners. Instruct hospital personnel to ask visitors which mother they are visiting and set up a sign-in log requiring identification. Do not post the mother's or infant's name where it is visible to visitors. Deploy video cameras in strategic locations such as the nursery, stairwells, doorways, elevators and hallways to monitor incoming and outgoing activity. Install alarms with time-delay locks on stairwells and exit doors and instruct staff to silence the alarm only after direct observation of the person using the stairwell or exit. Consider the installation of an electronic surveillance detection system. Be aware of the possibility of diversionary tactics being used as part of the abduction. All infant abduction protocols and incident response plans should be in writing and known to all hospital staff. Develop a media plan to brief the media (held jointly with law enforcement) on the incident and enlist their aid in publicizing the abduction. Underwriters should review the loss control/risk management guidelines of the insured hospital to see if they have similar procedures in place as those stated above.

High technology companies having experienced significant growth, have seen a corresponding increase in worldwide exposures. There is now a growing trend referred to as EDP extortion. For example, an unknown individual threatens to release a virus unless the company pays a ransom or sensitive/proprietary information and/or technology is held for extortion purposes.

Reliable data is hard to come by as to which companies suffer from what types of "cybercrime". Most companies do not report computer crimes to avoid public embarrassment and possible revenue loss. In fact, 37% of the 236 respondents to a U.S. Senate subcommittee survey of Fortune 1000 companies said they would report computer crime only if they were required to do so by law. /6/ Fifty-eight percent of the survey respondents reported break-ins to computer systems during the past year, with nearly 18% estimating losses exceeding $1 million. /7/ According to a study conducted by War Room Research L.L.C., more than 66% of reported losses exceed $50,000.

"There has not been an increase in claims, but there's been an increase in interest in the coverage, especially because standard electronic data processing protection policies do not provide extortion coverage", according to Jean McDermott Lucep, VP of AIU Crisis Management in New York. However, the basic K&R policy can be broadened to better address these expanded exposures. For example, several forms have broadened the definition of extortion to include the threat of disseminating, divulging or using trade secrets or introducing a computer virus designed to harm the insureds' computer system or data. Others have revised their policies to cover this exposure. Additionally, some of the following loss control techniques may be found beneficial:
Setting up firewalls to protect access to systems; Non-disclosure agreements with employees and third parties; Password protection/encryption; and Controlled access to the internet through servers rather than individual modems. Careful consideration of potential threats to company assets and as much pre-planning as possible will go a long way towards reducing corporate exposure.

Where do most kidnappings occur?

Latin America is still the region where kidnapping is most prevalent and where ransom demands are at their highest. Columbia reports over 7,500 kidnappings since 1989, Brazil over 4,500 and Mexico over 2,300. /8/ Recent ransom payments in Mexico have been as high as $30 million. /9/ The most significant new threat to emerge in the last few years has been that posed by the proliferation of the Russian Mafia in the former Soviet Union. Approximately 70% of Western businesses are subject to extortion threats in Russia, with demands being made on average of between 10-20% of the target company's profits. /10/

Corporate Risk International (CRI) has assigned a threat rating to each of the following regions which was determined by the ratings of the individual countries.


Pricing considerations

Basis of Premium: The rating process is extremely subjective with premiums generally based on the following factors: Applicant firm's asset; Revenue; total number of employees; security procedures; visibility of firm (firm's profile); loss or threat history and limit of liability selected. Overall, the market remains soft for this coverage despite a rise in insured events worldwide.

Loss Ratio: This information is difficult to obtain. Understandably, this is not a line where underwriters wish to come out and admit that they paid losses or say how much because it's just going to encourage that kind of activity. Some insurance professionals consider this a cheap line of insurance and there has been speculation that if an insured experiences a full loss, it would probably ruin the loss ratios of those underwriters for a full year.

Whether the motivations of the kidnappers are due to ideological, economic or personal reasons, kidnappings have similar effects on the victim and his or her family and company. For the victim, the experience is terrifying. Often confined in deplorable conditions, the detainee may be exposed to health hazards; or subject to threats or beatings that can lead to injury and even death. Throughout the detainment, the victim's family is crippled by fear and uncertainty about the welfare of their loved one, who the kidnappers are, why they abducted their loved one and if the matter can, or will, be safely resolved. Finally, for the kidnap victim's employer, the abduction will result in the loss of the victim's contribution to the company, the psychological effect the event has on other employees, the financial costs of the kidnapper's demand and the public relations impact on the firm's reputation. For the reasons stated above, expenses incurred in a kidnapping could be relatively high. For example, a kidnapping in which a $100,000 ransom is demanded can actually cost over $500,000 in other expenses. When pricing this line, anticipate a ransom payout in 40-50% of all kidnappings, an average ransom payment of $1,000,000 ($10,000,000 outside the US) and a payout pattern (ransom) of a few days (weeks to months outside of the US).

Conclusion

The general public has been unaware as to the number of Kidnappings & Extortion threats that take place today. However, in the July 2, 1997 New York Times, there was an article about a prison guard being rescued by the police in Madrid, Spain after being held captive for seventeen months by Basque rebels. This rescue occurred just hours after the same rebels released a businessman who was abducted seven months ago and whose family paid a $6 million ransom. Then one week later, we read about the beginning of an extortion trial against Autumn Jackson, the woman charged with trying to extort $40 million from Bill Cosby by claiming to be his out-of-wedlock daughter. If Mr. Cosby doesn't already have an extortion policy, perhaps he is contemplating getting one now. While various kidnappings and extortions have received media attention, assessing a firm's vulnerability to kidnappings and extortion remains difficult considering how hard it is to obtain industry information. Several factors make it difficult to assess the risk for this line: the general condition contained in most of these policies that the insured and all persons insured by the policy keep the existence of the policy confidential, companies preference for dealing with kidnappers themselves to avoid adverse publicity, and underwriters' reluctance to admit that they paid losses or say how much for fear that it might encourage this kind of activity.

We can not ignore the fact that changes in recent world events indicate that corporate kidnappings in overseas locales may become more prevalent in the future. The break-up of the Soviet Union and financial strains of other countries that historically funded terrorist groups have resulted in terrorists looking for an alternative fund raising mechanism to enable them to earn a living and to support their cause. Kidnapping is viewed by many terrorists as a low risk method of raising funds and since American corporations and their executives are perceived as vast repositories of wealth, they will be ideal candidates for a kidnapping both at home and especially abroad. Additionally, with the development of financial and other markets in Asia and Latin America, American corporate travel will increase in these kidnap prone areas. These heightened risk factors will force corporations to more carefully assess their vulnerability to kidnapping, how to avoid becoming victims and what to do if a kidnapping does occur. Risk managers and corporate executives must join forces to make homes, offices and travel more secure and to institute a detailed crisis management plan and a contingency plan to respond quickly in the event that a kidnap or extortion threat does occur. However, they will eventually conclude that kidnap and extortion perils require too great an amount of resources, time and expertise to be adequately handled without the coverage of and vast array of services available through kidnap insurance.

/1/ Christopher Dauer, "Industry Responds to Rising Kidnapping Threat," The National Underwriter (January 16, 1995).
/2/ Edmund Tirbuth, 'No Hostages to Fortune: The Insurers Have Kidnap Covered," The Independent(September 22, 1996).
/3/ Tamsen Tillson, "Held to Ransom," Canadian Business (June 1996).
/4/ "Insurance for High Risk Posts Grow," USA Today (August 25, 1995).
/5/ W. Harold Peterson and Thomas R. Peterson, "Countering the Threat of Kidnapping," Risk Management (May 1993).
/6/ Joanne Wojcik, "K&R Coverage Can Apply to More Than Just Employee," Business Insurance (March 24, 1997).
/7/ Ibid.
/8/ Willis Corroon, The Insurance Market - An Overview (1997).
/9/ Ibid.
/10/ Ibid.

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