Kidnap and ransom insurance?
Sounds strange and scary, but most people who read or watch the news understand the dangers of working in foreign countries whose population may be hostile to visitors (ie. kidnappings). Have you or someone you know worked in potentially hostile countries? Is the employer properly protecting their employee?
When Organizations make the choice to send their employees to destinations with risk of kidnapping are they fully covered? is there is such as thing as kidnap and ransom insurance? It does exist and its called K&R insurance. It protects the financial costs associated with employees who would fall victim to kidnapping, hijacking, wrongful detention and extortion.
If you or someone you know currently works or has been offered a term or contract to work in a potential hostile country, it would be prudent to inquiry about this insurance as the demands can exceed one’s personal wealth. In other words, who has 3 million dollars to post ransom!
Do you or someone you know work in a potentially hostile country? We would like to hear your story.
Hi,
I have been working in developing countries for years, so when I took a job in Iraq in 2007, I didn’t think to much about the risks. As part of the job I was assigned a 4 person armed security team and it was only for three months, so I just thought what could go wrong?
I had only been working in Baghdad for about 6 weeks when the ministry I was working in got stormed by police officers. Unbeknown to me they were actually a front for a Shia militia.
Over time I was seperated from my guards, who were all eventually killed. I was ultimately released over two and half years later in an exchange deal.
I think a couple of points about working in hostile environments: first, I always thought that “it would never happen to me” and second, I never thought I would be used for a political exchange.
I had ransom insurance, but the militia did not accept the payment. They thought I was something to do with the American military and wanted to do a prisoner exchange with their leader who was being held in American military prison.
Great comment but also a very intense situation, glad all worked out, but probably had lasting emotional effects. Looks like in this case and perhaps with other situations, money may not be the prime motivation for various interest groups. We hear from a lot of contractors who work overseas, and most would concur with Peter’s comment regarding their safety and believe they are immune to such events.
Thanks Peter for the comment.