The threat of kidnapping and extortion continues to grow abroad while domestic incidents of threats, cyber extortion and workplace violence are also on the rise. When one of these crises occurs, it can have devastating effects on the organization or family involved. Tokio Marine HCC can provide peace of mind through a policy that protects organizations whose employees and corporate assets are at risk as well as high profile families in the U.S. and abroad.
As educational institutions look to increase their global presence and offerings by expanding abroad, the escalating threat of kidnaps, extortions and illegal detentions has emerged as a significant peril. Coupled with the existing risks at home and the vulnerability of their cyber network, it is vital that these institutions protect themselves, their employees, trustees, students and faculty from the physical and emotional harm, financial consequences and negative publicity that can accompany an incident of this nature.
Negative public perception and lack of trust have put financial institutions and their employees at risk. The growing involvement a financial institution has in our everyday lives, coupled with economic uncertainties, has spawned new fears regarding malicious acts or threats perpetrated by disaffected individuals. These fears are compounded when employees travel abroad to unfamiliar or dangerous locations.
High Net Worth Individuals
High net worth individuals and their families are naturally perceived as prime targets for kidnappings, extortions, and illegal detentions. While many cases go unpublicized, this risk must be addressed. Not only will a kidnap and ransom policy with Tokio Marine HCC - Specialty Group allow these individuals and their families access to a team of uniquely qualified crisis response consultants, it will also provide reassurance that one incident will not burden a family with financial consequences years after it has occurred.
Generally thought of as a safe haven, even hospitals are not immune to the risks associated with kidnapping, extortions or illegal detentions. It can take only one such event to crush a reputation or devastate a hospital financially, and the physical and emotional toll it may have on its employees and patients can cause a ripple effect that lasts for years.
Law firms and the employees that represent them on a daily basis are frequently involved in contentious situations. The possession of information critical to the disposition of a court case adds another dimension for the exposure facing individuals involved in litigation. Thus, law firms must ensure they are protecting themselves and their employees against a range of malicious acts.
U.S. municipalities face unique challenges as they are vulnerable to a wide range of exposures. High name recognition can position municipalities as a more visible and attractive target. Over the years, there has been an increase in the number of incidents of workplace violence in public buildings. Municipality cyber networks are also particularly vulnerable as it contains confidential resident and public employee records. Local parks and public spaces can also be a target of child abductions.
Natural Resources Industry
The natural resources industry is unique in that it must operate where its product is located. Many times, this means going to areas of high risk that are more susceptible to kidnappings, extortions or illegal detentions. If these risks are not properly managed, companies and their employees could face devastating financial, reputational and emotional consequences.
Non-Governmental Humanitarian and Development Organizations
The obstacle facing non-governmental humanitarian and development organizations is twofold: They must implement their programs and accomplish missions in less than forgiving political and social environments, all while maintaining duty of care for their staff. With limited financial resources, the consequences of a kidnapping, extortion or illegal detention can hinder an organization for a substantial period of time. Best efforts need to be made to mitigate this risk and further protect those putting themselves in harm’s way to service the needs of local communities.
Sports is a big business. Not unlike major industrial and financial corporations, athletic organizations must protect their most valuable assets. It is vitally important to create an environment in which the athletes can solely focus on competing at the highest level, unencumbered by concerns relating to personal safety.
The past few decades have seen a dramatic increase in technological innovation. While this innovation has made millions of lives easier, it has also opened up new opportunities for criminals to exploit these advances. An increasing number of firms have fashioned business models dependent on the integrity of their cyber networks and the extortion risk associated with these networks has risen proportionally. Confidential information, including that of a firm’s own customers, must be protected at all costs.