The basis of both is to protect the Assured from the problems of Kidnapping for Ransom, Detention, Extortion, and Hijacking.
Special Accident Personal Cover: is a policy covering named persons only. This protects private families, individuals, small groups of shareholders (and their families) of private companies.
Special Accident Corporate Cover: is designed to cover either named individuals or all Directors, Officers and Employees (and their families) of publicly-owned commercial organizations – from very small companies to household name multinationals.
The critical elements of both policies are
* Full Reimbursement of any ransom payment, loss of ransom in transit, additional expenses (such as legal costs, rest and rehabilitation, public relations costs, medical care, the victim’s salary, interest on money borrowed to pay a ransom, travel costs) and Personal Accident (Personal Accident Cover is offered as an additional sublimit to the main policy limit).
* Guaranteed and immmediate access to special negotiation consultants whose role is to advise the family or company on the complex and sensitive issues that will need to be addressed in order to obtain the safe release of the victim.