Aon has called for the oil industry to implement crisis management plans and other measures to help prevent kidnapping as the number of foreigners kidnapped in Nigeria is on the rise.
According to Aon, while the number of global kidnappings has dipped slightly, incidents are on the increase in Nigeria due to local militant groups' claims for a larger share of the country's oil wealth for local citizens.
Clive Stoddart, executive director for Aon's crisis management team, said: "There is no reason why an individual should not travel anywhere in the world, as long as risks are well managed. Companies need to take greater responsibility for their employees, especially in line with kidnappers becoming more professional in their approach. Employees need to be educated and given clear guidance as to what to do and how to behave – including the use of common sense."
Stoddart added: "Premiums are competitive at the moment. The market has been flat for the past two years and there are signs of a softening market so we predict rate reductions in the second quarter of 2007. Insurance is a small price to pay. For example, your premium may be the equivalent of just one day's costs and expenses of the consultants nominated to respond to your incident. Extortion and detention are also included in the list of insured perils together with legal liability, thus protecting firms from law suits from victims' families for having put an employee in danger in the first place.
