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Is Kidnap, Detention, Extortion and Ransom a risk for your business?
Travelling overseas can be risky
What does Kidnap, Ransom & Extortion insurance cover?
- Reimbursement of the amount paid in connection with the kidnap, detention, extortion or ransom;
- Engagement and payment of expert negotiators to manage and assist in negotiating the employee’s safe return or managing the extortion;
- Interest on loans used for ransom payments;
- Legal liability
If you or your employees are intending on travelling overseas the Australian federal government’s website https://www.smartraveller.gov.au/ has a lot of information that can assist with staying safe. In addition, check your travel insurance or talk to one of our insurance advisers today about specialist cover.
All information above has been provided by the author.
Insurance Advisernet, ABN 15 003 886 687, AFSL 240549
This article originally appeared on Insurance Advisernet News and has been published here with permission.
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