Separate Kidnap & Ransom insurance for piracy ensures clients can bridge gaps in traditional marine insurances. Without it, the risk of incurring significant costs as a result of such an incident, with no recourse, is a key consideration.
- Balance Sheet protection
- Business continuity
- Access to industry experts mitigating the loss
- Professional team to assist the vessel post incident
- Rest and rehabilitation expenses within 12 months of the release for victims, their spouses and children USD 25,000 per insured event
- Reimbursement of ransom of up to USD 5,000,000 per insured event
- Loss in transit of ransom of up to USD 5,000,000 per insured event
- Legal costs of up to USD 5,000,000 per insured event
- Reasonable cost of port authorities
- Fees and expenses of response consultants and independent PR experts.
Our shipping industry Kidnap & Ransom policies are about having the right resources on hand to maximise the possibility of getting people back safely. They provide direct access to professional crisis management and maritime security consultants. Staple Hall can also assist clients with prevention services.
- Over thirty five years operational experience and one of the largest portfolios of Kidnap & Ransom business in the London market.
- Capability to turn around business from initial contact to policy issuance within 48 hours.
- Access to London and Guernsey markets providing complete flexibility, with quick decision making and documentation
- Deliver policies that place the safety of crews as the primary objective.
- Exclusive access to the services of one of the leading response companies: direct access to professional crisis management and security consultants.