Home > Property & Casualty > Top 10 areas for kidnap and ransom incidents

Top 10 areas for kidnap and ransom incidents

Kidnap for ransom was once a crime synonymous only with countries like Columbia and the surrounding Latin American region, but kidnap for ransom and extortion has become a worldwide threat plaguing countries around the globe from Iraq and Afghanistan to Yemen, China and India. While inconclusive reports and varying incident classifications make official statistics difficult to obtain, there is no question that kidnap and ransom crimes are on the rise. Reports of kidnapping, hostage-taking, piracy and extortion are turning up more frequently than ever before, affecting victims from both poor and wealthy backgrounds. According to Red24, a leading global security company providing global risk management to employees and companies, there were an estimated 30,000 incidents in 2011.

While incident rates have fallen in certain areas, kidnap and extortion remains among the most prominent crimes in the Central and Southern American regions, with both major criminal organizations and low-level groups carrying out kidnappings and other extortion operations. Red24 recently ranked these the top ten areas for threat of kidnap and ransom incidents in 2012:

1. Afghanistan
2. Somalia
3. Iraq
4. Nigeria
5. Pakistan
6. Yemen
7. Venezuela
8. Mexico
9. Haiti
10. Colombia

(Click here for Red24’s full Threat Forecast 2012 for more details.)

There is an active insurance marketplace for Kidnap, Ransom and Extortion Insurance (KRE or K+R) coverage with many major players, including Chartis, Chubb and Travelers as well as some lesser known specialty players. This coverage allows the buyer to negotiate favorable terms and conditions at what I believe to be reasonable pricing. Most KRE policies are comprehensive, providing reimbursement for ransom, public relations support, expert guidance and counseling with experts. Experts in this field often have extensive experience in the methods, patterns and process of the groups that are involved in terrorism. A well-crafted KRE policy can assist potential victims of these crimes in responding effectively to such events.

About the Author

 Jennifer Sharkey is a Senior Vice President at WGA in the ExecutiveRisk Practice. She is responsible for consulting, marketing and negotiating coverages for Directors’ & Officers’ Liability, General Partnership Liability, Private Equity/VCAP, Fiduciary Liability, Fidelity, Kidnap/Ransom & Extortion, Employment Practices Liability and Professional Errors & Omissions Liability.

617.204.6706   jsharkey@wgains.com   Connect with Jennifer on LinkedIn

  1. Susan Forbes
    April 11, 2012 at 12:21 pm

    CNA Announces New Kidnap, Ransom & Extortion Product

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