Are You Sure Your Clients Know the Risk

May 03, 2016

We are happy to announce the release of our new product Captum Kidnap and Ransom. This new product releases May 4, 2016. It is the first online, guaranteed issue Kidnap and Ransom policy in the market. 

Our research suggests two things. First, estimates show there are between $500 million and $1.5 billion paid in ransom every year. Secondly, 70% of all reported victims were “NON Affluent” (e.g. Middle class, students, etc.). Have you heard of "Express Kidnapping or Tiger Kidnapping?" Take some time to Google them.  

In recent years, kidnappers have adjusted their tactics from high-profile targets to middle class, middle management, and aid workers. These people earn between $50,000 to $100,000.  This product is not just for clients who travel or work in high-risk areas of the world. Given the escalation of global violence, they may be interested in our new kidnap and ransom product. Keeping that in mind, here are some of your potential clients: 

  • Missionaries traveling to less savory locations on the planet. 
  • Groups traveling for aid work in second and third-world nations. 
  • Small businesses that see the value of having the coverage as a stand-alone product or as liability coverage.  

Key product benefits include:  

  • Up to $1 million in ransom coverage per event.  

  • $250,000 in accident coverage.  

  • Emergency repatriation and relocation, insured up to $25,000 per event.  

  • Covers lost income, legal fees, crisis response team services, and more.  

  • Premiums cover trips from one (1) week up to six (6) months. 

Other key facts include information from a 2013 article in the The Economist, which reported in 2013 the kidnap & ransom market had grown from $250 million in 2006 to $500 million by 2011. A leading insurer for this kind of product reported annual premiums of $200 million per year from 2010 through 2014. Estimates today put the market at over $1 billion in annual premium. 

Learn more about Captum >>

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