Kidnap For Ransom New Business High Net Worth Insurance Policy

March 13, 2013 |  by  |  Linkedin Blog, Security

With a continuous surge in the number of crimes perpetrated against western business owners while travelling overseas, it is wise to highlight suitable Insurance and to study a couple of case files.

It was widely reported on March 10th 2013 that Ansaru a splinter group of Boko Haram, who are the Nigerian North’s main terrorist organisation kidnapped several foreign construction workers who were working in Nigeria for a Lebanese construction company.

Forget the global recession, kidnap for ransom or K&R is experiencing significant growth world-wide. More terrorist and organised crime gangs are resorting to kidnap for ransom as their primary source of revenue generation.

Security RansomA swell in crimes like kidnap for ransom, carjacking and people being targeted as unknowing drug mules, has prompted a response by one of the Lloyds insurance groups adding a new insurance policy to its portfolio. The policy is called the Lloyds (HNW) High Net Worth HNW 606 and insures against these risks.

Although little is known in the business world about this policy it was first introduced in August 2008. The Lloyds (HNW) High Net Worth HNW 606 insurance policy offers family protection and insurance cover in the event of kidnap and ransom, assault and carjacking. It also offers to provide professional security training and advice for members of the family who are travelling the world.

One of the reasons there is a sharp increase in carjacking in the UK is because of increased security products and devices being built into new vehicles by the manufacturers. This means many criminals are resorting to stealing cars while people are at the wheel. This obviously increases the security risk to the driver and occupants.

The Lloyds HNW 606 insurance policy can also include training for members of the policyholder’s family. Many security experts recommend this, especially for parents of children who take time out, or a gap year to explore overseas destinations. Professional security training will minimise the risk of being duped into becoming a drug mule. Furthermore it will reduce personal security concerns by identifying basic security counter measures like which taxis and buses to take.

Case Study 01:

Terrorists Execute Hostage

As a global security consultant I am aware that few civilians understand that terrorist organisations crave publicity. The higher profile their attack or the more controversial the attack, the more publicity they gain. Hence the horrific tactic of beheading hostages while filming the event.

The execution video or DVD is then handed to media outlets via an unwitting fixer. A controversial act like the beheading of the Polish hostage released on video a couple of years ago was of course graphic to the extreme. After holding him hostage for four months Pakistani militants took a conscious decision that the broadcast publicity was more valuable than any ransom that may have been obtained.

Early reports indicated the execution video as running for seven minutes and appears to show Piotr Stanczak sitting on the floor flanked by two masked terrorists while another off camera terrorist converses with the hostage. This was followed up by three others beheading Mr Stanczak.

One of the masked terrorists then accuse Pakistan as being responsible for the execution for refusing their demands to release 26 Taliban prisoners.

If and when security forces confirm the execution as legitimate, this will be the first killing of a western hostage in Pakistan since the beheading of US journalist Daniel Pearl in 2002.
Mr. Stanczak an oil and gas surveyor was snatched from his car in September 2008. His abductors killed three Pakistanis travelling with him. The abduction occurred in the lawless region of North West Pakistan, a region some security experts believed was home to Osama bin Laden and other al Qaida leaders.

Although there is no such concept of 100% security, it is worth mentioning that kidnap for ransom insurance is available to ordinary members of the public and is no longer exclusively available to blue chip corporate executives and diplomats.

Piracy is also a growth sector hence the reason for the following maritime security case file.

Case Study 02:

February 11th 2009
Piracy and Kidnap for Ransom

As the Saudi-owned Sirius Star oil tanker was hijacked by Pirates off the coast of Somalia, another fishing vessel with 16 Thai crew members has been hijacked off the same coast. This takes the number of hijacked ships to eight in the last two weeks.

The fishing vessel was seized in the Gulf of Aden on Monday. Earlier reports also indicate that an Iranian bulk cargo carrier with 25 crew members was also seized. Both vessels were heading to the Middle East when they were hijacked.

The Thai boat was flying a Kiribati flag but operated out of Thailand. The bulk carrier was flying a Hong Kong flag but operated by the Islamic Republic of Iran Shipping Lines.

The latest incidents bring the number of attacks in Somali waters this year to 95, with 39 ships hijacked. It is believed 17 vessels remain under the control of pirates.

The Sirius Star’s operator, Dubai-based Vela International Marine Ltd, said the 25 crew on board – two Britons, two Poles, one Croatian, one Saudi national and 19 Filipinos – are believed to be safe.

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Dr. Mark D. Yates

Dr. Mark D. Yates is a global #1 LinkedIn consultancy business growth specialist, LinkedIn speaker, LinkedIn Sign & LinkedIn training instructor & CEO of Link Business Marketing Ltd. If you need to hire a LinkedIn expert to help you gain profitable business growth, contact him. Tel: UK 0203 390 2013 Email:, connect with him on LinkedIn & Twitter You can view & download his dynamic independent LinkedIn training program at:

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