EXECUTIVE RISK INSURANCE SERVICES

SPECIAL RISK INSURANCE FOR CORPORATE EMPLOYEES WITH KIDNAPPING INSURANCE COVERAGE "ATTACHED"

Although dedicated kidnap insurance and ransom policies typically offer programs of the highest quality, it is possible to secure these policies “attached” to other policies like foreign workers compensation insurance. Years of providing executive risk insurance services enables us to help employers decide the best course of action depending on the following factors:

• To what countries employees are traveling (Risk Zone 2, 3 or 4)
• How long employees are spending in each country (a few weeks or all year as expatriates assigned to those countries)
• How many employees are in each category above
• The employer’s budget. Sometimes corporate security plans have to be designed to fit a limited budget.

Kidnap & ransom insurance for employers of corporations, non-profits, or missionary organizations can be written on a blanket basis or on a named employee basis. Of course, “blanket policies” are recommended when available because everyone is covered by definition and there is no risk someone may be left off the list.

SPECIAL TRAVEL INSURANCE FOR KIDNAPPING FOR SELECT EXPATRIATES IN SPECIFIC COUNTRIES

Sometimes a blanket and worldwide K&R insurance policy is not needed. It is possible to secure an expatriate extortion 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 expats in all countries other than Mexico and Russia, where there is a definite threat of kidnap for Westerners. With the help of our global risk insurance services, a global employer can take out a named expatriate kidnap ransom and extortion 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 risk insurance provider, and if a few people are left off the list, they will most likely be left without coverage in the event of an expat kidnapping or extortion threat against an expatriate.

Once an employer established a kidnapping insurance policy on select individuals or groups, the existence of the policy must be kept highly secret. Only 2 or 3 people in the home office should know anything about the policy. The employer must not send out notices about the policy nor note the particulars in expatriate handbooks.

INTERNATIONAL SECURITY MANAGEMENT / GLOBAL SECURITY MANAGEMENT FOR EXECUTIVES

Identifying which expatriates and global travelers are living or visiting Zones 3 and 4 is step number one and not easy for a massive corporate employer like Nestle or Boeing for example. Large companies may not have a coordinated approach to security and numerous corporate entities around the world may be doing different things. The proper international security management implementation of executive risk insurance services for an executive security plan for a global employer of any size starts with a K&R policy for individuals in Zones 3 and 4 but goes well beyond kidnap and ransom insurance. Our risk management company is a full service corporate security expert that can assist with ALL of the below.

• Kidnapping Insurance: Deciding on a named or blanket policy. Deciding on a dedicated policy or a policy attached to other forms of international insurance. Meeting the budget.
• International Security Management Planning & Executive Risk Management: Making sure all expatriates in Zone 3 and 4 countries have an emergency security plan in the event of a major incident. This “incident” can take many forms, from terrorism to a catastrophic natural disaster. In Mumbai India, after armed men began terrorizing the city, many hoped for a plan that was never given to them by an employer. They had no idea what to do! The 2008 Mumbai India attacks (sometimes referred to as 26/11) were more than 10 coordinated shooting and bombing attacks across all of Mumbai, India's largest city filled with foreigners, by Islamist attackers who allegedly came from Pakistan. What about the recent catastrophic natural disasters in Japan, Indonesia, Haiti, and Turkey? Do expatriates know how to get out of the country and when to act? Where to meet and who to call in an emergency are things that have to be planned in advance? Have they been given a hotline number that works 24/7/365 from anywhere in the world? Our brand of executive risk insurance services takes the worry out of being an expatriate.
• Executive Briefings, Security Awareness, and Protection Courses: Who sits down with expatriates and even global business travelers before they go abroad? Basic instruction needs to be given on where not to go and how to avoid certain situations. The biggest risks in their city need to be highlighted. How to make sure the family is protected if they are also in country. What are the biggest scams in the country that target expatriates and foreign travelers? Driving in Mexico City, there are 50 things you need to know before you arrive. There are 100 other examples.
• Expatriate Preparation & International Insurance Risk Analysis: An on-the-ground assessment of the job site and the international expatriate residence from a security perspective. Are greater security measures needed in the area or extra provisions in the specific executive protection insurance policy. In Zones 3 and 4 armed guards are not out of the question nor are bullet proof glass automobiles and other measures people would call “James Bond.” In some of these countries they are not “James Bond,” they are essential life saving measures. These assessments also include who is conducting background checks on office staff, drivers and other people that interact with expatriates and your top executive staff.
• Maximize Expat Security With Expatriate Policy and Procedures Manuals: What are the policies and how are they documented for the expatriate or global business traveler before the assignment. Details on the kidnap and ransom insurance policy cannot be included in the expatriate handbook but most or all else mentioned above can be and should be noted.