Marine kidnap for ransom and hijacking are significant and real threats to shipowners' vessels and those who serve on them around the world. Properly managing a kidnapping or hijacking for ransom is essential to protecting the life and well-being of the crew as well as an organisation's assets.
Kidnap for Ransom & Hijack (K&R) Insurance protects organisations against the financial loss that can arise when the crew and/or vessel is seized or detained for ransom. It protects a shipowner against various costs that may not be covered under other insurances when a vessel is hijacked and/or the crew is kidnapped and provides access to K&R experts as well as various other consultants that will assist to resolve the incident successfully.
For more details see the folder Marine insurance » (page 18-21)
Who can be covered?
Limits: Maximum limit USD 40 million per event and with sublimits...more details can be found in the Marine Insurance brochure (page 20)