Royal & Sunalliance (R&SA) Professional and Financial Risk has launched a new kidnap and ransom product for UK business people travelling abroad.
Over the past eight years, there has been a 70% increase in kidnapping around the world. The product offers crisis management support and insurance cover for items such as ransom payments and legal liability.
Special risk product leader at R&SA, John Ryder, said: “As globalisation increases, thousands of UK companies are putting both their staff and their business at risk by allowing employees to travel abroad on business without ensuring they are covered by kidnap and ransom insurance.”
A total of 43 Britons were kidnapped abroad in 1999, compared to 11 in 1997.