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The risk of being kidnapped for ransom money increases every day

21 January 2020 8:27 PM
Tags:
Kidnapping
Insurance
Kidnapped for ransom
abduction
According to police statistics, kidnapping has increased by a 139% over the past decade.

How best can you protect yourself against kidnapping?

Kidnappings are not just a movie thing - like cybercrime, it is on the increase.

It is one of those crimes that has a touch of Hollywood about it. But this crime is happening more frequently around the world. There are about 16 to 17 cases a day reported in South Africa. The nature of the crime is often that it must be kept a secret. One does not have stats on how often the ransom is paid.

Simon Colman, Head of Commercial Solutions - SHA Specialist Underwriters

Insurance cover against kidnapping has been available in SA for many years. It's always difficult to advertise - we in the industry are often accused of fear-mongering. But unlike car or household insurance - disclosing that you've got the cover, could put a target on your back. If kidnappers know they can get insurance money they may target those people and their families.

Simon Colman, Head of Commercial Solutions - SHA Specialist Underwriters

The actual reimbursement of the money of this policy is really the end of the line. What makes the cover work is it includes control risks. All the employees are former special forces police negotiators, people who were very high up in Interpol.

Simon Colman, Head of Commercial Solutions - SHA Specialist Underwriters

Listen to the full interview below.

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This article first appeared on 702 : The risk of being kidnapped for ransom money increases every day


21 January 2020 8:27 PM
Tags:
Kidnapping
Insurance
Kidnapped for ransom
abduction

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