Kidnap & Ransom
Marine kidnap for ransom & hijacking are significant and real threats to ship owners’ vessels and those who serve on them around the world. Properly managing a kidnapping or hijacking for ransom is essential to protecting the life and well-being of the crew as well as an organisation’s assets. Kidnap & ransom insurance protects organisations against the financial loss that can arise when their crew and/or vessel is seized or detained for ransom.
It protects a ship owner against various costs that may not be covered under other insurance when a vessel is hijacked and/or the crew is kidnapped, and provides access to K&R experts and other consultants that will assist to resolve the incident successfully.