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Kidnap & Ransom Insurance

Business travel is becoming more frequent, and while it's mostly incident-free, kidnap, ransom, extortion and detention are unfortunately an increasing threat to organisations and individuals around the world.  AIG offers tailor-made solutions to address these threats, giving you confidence to conduct business, safe in the knowledge that exposure to these threats is reduced, and that there is expert assistance available in the event of a crisis.

Product Highlights

Tailor-made products to address duty of care

Our policies help businesses to meet their duty of care to their employees both at home and overseas. We recognise that each organisation and the risks they face are unique, so cover can be tailor-made to suit individual circumstances.

Local knowledge, global expertise

Our locally-based underwriters provide a dedicated service throughout the purchase and renewal process. Our team is supported by a global network with more than 30 years’ experience providing kidnap and ransom insurance.

World-leading crisis consultants

Our specialist crisis prevention and response partner, NYA International, has over 20 years’ experience helping customers to reduce exposure to potential incidents, and to manage them when they occur. They provide an immediate response to any incident, anywhere in the world, offering customers objective and impartial advice on the full range of options to bring the event to a successful conclusion.

A trusted partner

AIG has the experience and expertise to provide best-in-class protection and response for our customers and their families. Our global presence means we can make fast and effective decisions, and can respond swiftly in a crisis.

In today’s global marketplace, businesses often need to operate overseas in order to compete effectively. However, the security situation in many countries can change quickly, and potentially put both business operations and company executives and their dependents at risk. Incidents are traumatic for those involved, and companies may face huge losses from ransom payments, business interruption, litigation, adverse publicity, and long-term damage to reputation.

In the event of a crisis, the organisations that cope most effectively are those with thorough, tried and tested response plans and procedures, and access to professional and experienced advisors. This can make the difference between a rapid, controlled recovery or, in extreme cases, a business failing to recover at all.

Kidnap and Ransom insurance protects organisations against the financial loss that can arise when an employee is seized or detained for ransom or faces extortion. Backed by unparalleled consultancy, medical and emergency travel assistance services, AIG offers organisations the experience and resources typically not provided in-house to manage and resolve these incidents successfully.

We offer flexible coverage based on the unique exposures faced by your business. Benefits include:

  • Limits of up to US$50 million.
  • Cover for ransom and extortion monies, loss of payment in transit, consultant costs, accidental death and permanent total disability, judgments, settlements and defence costs.
  • 24-hour emergency response helpline with access to experts from NYA International who can assist in the event of an incident.

This cover has been designed to protect Australian companies operating locally or overseas, in particular those who have employees travelling to or based in higher risk locations.  We also offer specialised policies to protect high net worth individuals and their families.

NYA International (NYA) is a specialist crisis management and response consultancy with over twenty years of experience helping customers reduce their exposure to, as well as manage incidents of abduction, kidnap-for-ransom, piracy, extortion, wrongful detention, malicious product tampering and other global emergencies.

As a policyholder, customers have access to the following NYA capabilities:

  • Dedicated operations centre comprising former military personnel with extensive security and crisis management experience and 24/7 access to the most up-to-date information and intelligence tools.
  • Services of 22 full-time or exclusively retained response team consultants located globally and supported by a further team of full-time staff in NYA’s London headquarters.
  • Monthly newsletters covering both kidnap and ransom and maritime piracy events, free of charge to business subscribers.

For any enquiries about purchasing, renewing or making a claim on an AIG business policy, please contact your insurance broker or find a broker here.