Expatriate Kidnap and Ransom Insurance
Getting an expatriate back safe is possible working with the right people
Sometimes a blanket and worldwide kidnap and ransom insurance policy is not needed. It is possible to secure an expatriate kidnap and ransom insurance policy only for certain expatriates in select countries. This would be called a named policy vs. a blanket policy.
If a company has 25 expatriates with five each in Mexico, Germany, U.K., Russia, and China it may be unnecessary to cover the expatriates in all countries other than Mexico and Russia, where there is a definite threat of kidnap for Westerners. A global employer can take out a named expatriate kidnap and ransom insurance policy on select individual employees residing in certain countries.
Of course, the disadvantage of these policies is there has to be a consistent reporting to the kidnap and ransom insurer, and if a few people are left off the list, they will most likely be left without coverage in the event of an expatriate kidnapping or extortion threat against an expatriate.
If a company can afford it, a blanket policy is superior, but in many cases companies can be charged to enroll individual expatriates in countries where the risk is very low. In these economic times few companies can afford to pay for insurance not needed.
