K&R: Kidnap & Ransom

18.10.2019

Kidnap & Ransom Prevention, Response, Awareness, Insurance, Extortion, Ransom Insurance, Kidnapping Insurance, Companies: HISCOX, AIG, CHUBB, TRAVELERS, ALLIANZ, CATLIN, HCC, AON

Almost none of us will ever have anything to do with kidnapping beyond watching the ‘Taken’ movies. At most a kidnapping will happen during a bachelorette party and end with a stripper and some shots. After all, for the average person, nothing much could be gained from kidnapping them.

Prank kidnappings aside, the main motivator for it is money. The more money someone has, the more at risk they are-and like with every risk, there is insurance for it. Kidnap and Ransom Insurance it’s called, and the essential idea is that someone takes out insurance, paying into a fund. In case of an actual ransom demand or extortion, the ransom insurance company then pays for it out of the fund.

These insurance companies aren’t some small or shady specialist agency though, big ones like HISCOX, Travelers, Allianz and AON offer these services to a select clientele. Less known companies like AIG, Chubb or HCC focus more on other sectors. Either way, Ransom insurance isn’t something that’s generally advertised to the broad public, as it doesn’t affect the broad majority of people.

Like other insurance services, these aren’t among the ‘normal’ packages that people can buy. Instead, for example, wealthy businessmen will take out insurance for their children, as they are more at risk and obviously more vulnerable. While the children are educated in kidnapping awareness and warned about the possible dangers, the parents pay into an insurance fund to get them back in case the worst comes to happen.

From the companies side, the fund is paid for by all the insured-however it will only ever be used when a kidnapping happens. The advantage for the kidnapped or their family is that they are not required to liquefy and move large sums of money, while the insurance company has the relative security that the fund will only be required very rarely. Like many kinds of insurance, this is, for the most part, a win-win arrangement. The insured pays a small sum of money that in case of the emergency of a kidnapping or ransom demand eases the burden considerably, while the insurance company gains a comparably safe and easy method of income.

Despite all this, it has a very negligible influence on our everyday lives. It’s a valid concern and massive security risk to wealthy or famous people, and yet the closes an average Joe will come to it is by watching a movie, or coincidentally having taken out insurance with a company that also offers these services-and that, perhaps, is for the best.


UNHWI Security, HNWI Security UNHWI protection, Ultra High Networth Individuals Security

21.09.2016

Very few people will even be familiar with the term HNWI or UNHWI, the differences are negligible. And, even fewer yet, will have ever been in contact with one or even be one themselves. UNHWIs or Ultra High Networth Individuals, meaning, in simpler terms, very, very wealthy people, will generally not be found in a local Walmart or Tescos.

In many cases, UNHWIs will be more or less completely removed from ‘commoners’ lives, and that is a fairly vital part of their security. With greed and envy being the most human of emotions, those who have a lot need to be wary of others taking it. This means protection. Protecting one’s belongings has been a concern for humans since we stopped living in caves and it hasn’t become any easier since then.

Nowadays, people hardly protect their own anymore, they hire others to do it for them. This can take the shape of security firms, individual bodyguards, security systems and all kinds of alarms. Naturally, the wealthier someone is, the more they have to protect, the more they need UNHWI Security.

The approaches to this particular branch of security (as with HNWI Security) are varied. There are standards, like cameras, that will be found in almost all properties, and bodyguards during high-risk events or in larger crowds, however even those aren’t guaranteed to be around. No, it is simply up to the individual what kind of security they go for.

UNHWIs will, as a rule, know enough about their personal situation to be able to make somewhat informed decisions and those who don’t will hire professionals to do it for them. Security is no longer a one-man-job, instead various people, organisations, and technologies will work together to protect the Ultra High Networth Individual.

Yes, to a ‘normal’ person this can seem fairly costly, and, in absolute numbers it often is, however compared to the risk of being robbed, kidnapped or extorted, it is a comparably small price to pay. Protection of assets as well as people is what allows UHNWIs to lead normal lives without needing to hide away completely.

Especially for those who have a family and children, wealth can become as much of a hindrance as an advantage children may feel ostracised and hindered in their daily lives by their parents’ security measures, taken as they are to ensure their safety. From a protection standpoint, being an HNWI is certainly not easy.


Background Checks Companies, Background Checks Individuals, Business Partner Finance & Compliance Checks

24.08.2016

Background checks are usually considered uncomfortable. The person being checked will often feel intruded upon or mistrusted. Despite that feeling of being uncomfortable it is largely accepted as a necessary evil. After all, who wouldn’t rather have background checks done for people who work with children, for example?

The legal background varies greatly from country to country. In America for example, very nearly everyone can conduct a background check on someone if they have the necessary information. In the UK on the other hand, the person being checked needs to give permission and the check is then being done by a government agency.

Now, in what kind of situation are background checks common? Many countries require them for people who want to work with children. Banks and larger companies like to know if their employees have a criminal background as well, before employing them. However, background checks aren’t just done on potential employees, but also on, for example, new business partners. Business partner finance checks have a very obvious purpose-to give information about whether or not the potential partner is lucid and therefore a viable partner.

There are several kinds of different background checks-some are really more identity checks, while others give a full scale criminal record, credit check and a list of former residences. In most cases, someone that requests such a check will do so with a certain intention and therefore only check certain things. Typically, it’s governments that will perform more in-depth searches into potential employees or persons of interest.

A bank’s interest into potential clients is equally obvious-it will perform individual credit checks to see if someone is eligible for credit or an account. The reason to do this needs no elaboration-a bank cannot simply give credit to anyone, they first need to see if the person can be trusted with the responsibility.

As far as performing the actual checks goes, they can be done by several parties, for example background check companies, the government, a government backed organisation, or the police. Background check companies will need to be certified and adhere to a lot of rules and regulations concerning the dealing with personal information. Respecting privacy while performing these checks is an essential checkmark in these situations and one of the few comforts possible for people that feel intruded upon by the checks. The companies are usually liable for leaked or misused information and will never give the information to anyone not allowed access to them.


Panic Room, Safe Room, Secure Room

25.04.2016

A panic or safe room is something most of us only know from movies or what we imagine is located under the White House in Washington. That is, of course, most likely true. However, panic or safe rooms aren’t exclusive to the President of the United States of America. They serve a variety of purposes, the primary one revealed in the name itself ‘Safe Room’. Generally, it’s a safe-like room that can be locked from the inside only, for protection purposes. There are several variations of the theme, though the ones displayed in the media are usually fairly unrealistic. While it isn’t impossible to have, for example, a room that locks down completely on the press of a button, it is incredibly impractical. More common are underground rooms with one or two possible exits that are closed mechanically.

A good safe room will have necessary facilities, water and rations as well as a phone connection outside. Similar to a bunker, they can be used to protect oneself from threats like robbers, kidnappers, terrorists or the like. While they don’t come as standard equipment with most houses, they are certainly popular in certain circles, for example with politicians, celebrities, HNWI´s and UHNWI´s.

Large organisations like the U.N. have panic rooms too, in case of, for example, a terrorist attack, for the protection of the visitors. While the benefits of a safe room seem relatively self-explanatory, there are certainly drawbacks as well. First of all, the costs of having one installed, even if there is sufficient space, can be incredibly high, since it requires special planning permission, and resources.

Generally these rooms are built to be very sturdy and strong, able to withstand a theoretical attempted break-in. Ventilation, storage and facilities have to be planned and accounted for, upping the price of construction even further. In today’s day and age, this kind of bunker-like room is hardly necessary for an every-day home, panic rooms have a long history. During the Second World War, a variation of them, bunkers, were very, very common and used during bomb alarms. They were only used for short time stays until the alarm and immediate threat was over. As such, they were much simpler and often intended for use by several people at once.

Modern panic rooms can usually hold between one person and a family, as they are more built to last for time rather than space, for example until help arrives in the form of police. These rooms often have an actual safe in them as well so that small items of value can be taken to safety as well.


favicon-196×196