Kidnap and Ransom Coverage's

Kidnap insurance provides numerous benefits and services to the policy owner and the insured. Most people believe that kidnap insurance is only a ransom benefit.

Corporate and personal security has improved dramatically. However, the use of kidnapping or extortion to gain access to industrial secrets, to make sociopolitical statements, or for monetary purposes, continues to rise.

Most kidnaps are carried out in order to obtain a ransom, and in most cases a ransom is paid. Rescues are rare, largely because the authorities in most countries recognize that the safety of the victim is paramount. the average percentage of deaths following a kidnap is 9%. In cases involving The Crisis Response Team, less than 2% of people are killed.

Contingency Problems Are Increasing

• 70% of companies located in Russia have faced extortion demands in the last five years.
• Kidnap demands of up to $100 million have been made in recent years in Mexico, Argentina and Costa Rica.
• Between 1991 and 1996, kidnapping incidents involving a demand for ransom have almost doubled around the world. In 1996, over 1,354 incidents involving a ransom demand were reported.
• Global markets and access make business around the world practical and profitable. These same factors all add additional risk, especially in countries where the economy is not very strong or is unstable.
• An article in the London Financial Times reported that with the increase in electronic security measures at businesses and homes, industrial espionage can be accomplished easier through the abduction of family members of individuals who can access the desired information.

Average U.S. citizens and business owners have become more vulnerable due to the current politics and economics of the world.  Now you can help protect your clients from what may be a serious event in their life.  The most important feature is the immediate access to a highly skilled and trained Crisis Assistance Team with locations throughout the world.  Their job is to take action so the local authorities do not make fatal mistakes with the negotiations.

Petersen International Underwriters issues Kidnap & Ransom Coverage insured by Lloyd’s of London. The Crisis Response Team is a premiere provider of political risk assessment, crisis management, security management and investigative services.

Kidnap & Ransom Brochure

Event Insurance for Cancellations

Sometimes things happen that are beyond anyone control which in turn can cause thousands of dollars to be lost.  Protect your event with Petersen's event cancellation and non appearance policy.

Events can be cancelled due to many situations such as weather, sickness or non appearance.  Petersen International Underwriter helps protect from the financial loss of these types of situations and others. Event insurance and non appearance coverage can help protect in unforeseen situations that are actually out of anyone's hands. Cancellation of musicians, conventions or special events need coverage protection to help cover financial loss of staffing, supplies and other materials involved.

Event Cancellation & Abandonment

• This insurance indemnifies the Insured parties for costs and expenses incurred to organize and produce an entertainment event should the event be cancelled, abandoned, postponed, curtailed or relocated due to a cause beyond the control of the Insured

Special contingencies are most often prescribed to entertainers, but we find many uses for this coverage in the business world each day. Event Insurance for cancellations and Non-Appearance Insurance coverage is used to indemnify the expenses incurred in preparation for an event. This could be a concert, business convention, rally, or any type of special event that is dependent upon an individual, group or even the weather.

Non-Appearance Insurance:

Indemnifies the Insured parties for costs and expenses incurred to organize an entertainment event resulting from cancellation, abandonment, postponement, curtailment or rescheduling due to any or all of the following:

• Death, Accident or Illness
• Unavoidable Travel Delay
• Damage or Destruction of Venue
• Causes Beyond Insured’s Control

Event Insurance Brochure