Specialist insurers are reportedly finding more business for dedicated kidnap and ransom policies. The policies are doing well now that many travel policies that used to offer some degree of coverage specifically exclude at-risk countries.
Katie Small of London Loves Business reported that it's not just obvious sites such as the waters off Somalia that are hit with kidnapping. South America and even some parts of Europe are seeing a rise in so-called "express kidnapping" where gangs snatch a victim for a short while and release them for a comparatively small fee, working on the idea of making their fortune through volume.
Specialist policies, which are particularly popular for large businesses that send key staff overseas, don't usually make large cash payouts immediately. Instead the idea is that claimants use the policy as a form of security to take out a bank loan or other quick financing.
The policies are also about services as much as cash. Some policies include access to trained negotiators and specialist services to take care of the logistics of dealing with kidnappers and paying ransoms without inviting more danger.