Risk mit­i­ga­tion

RISKAFRICA Magazine - - • KIDNAP AND RANSOM -

Even if a client has kid­nap and ran­som in­sur­ance, preven­tion is far prefer­able to hav­ing to go through the or­deal of be­ing ab­ducted. To this end, it is vi­tal that clients are ed­u­cated about the risks of kid­nap­ping and how best to avoid them.

It is im­por­tant to un­der­stand the lo­cal en­vi­ron­ment that a client is vis­it­ing or op­er­at­ing their busi­ness in. Ob­vi­ously, em­ploy­ing ag­gres­sive tac­tics such as em­ploy­ing ex-mil­i­tary pro­fes­sion­als for se­cu­rity or us­ing ar­moured pa­trols will de­crease risk, but un­der­stand­ing the lo­cal en­vi­ron­ment can be just as ben­e­fi­cial.

Most in­sur­ers that of­fer KRE in­sur­ance will have travel in­for­ma­tion avail­able for travel to high risk ar­eas and how to mit­i­gate the risk of kid­nap­ping. Some even of­fer train­ing. There are many mea­sures that are both sim­ple and prac­ti­cal, and on the sur­face seem ob­vi­ous, but of­ten do not oc­cur to peo­ple un­less they feel threat­ened. “Ar­rang­ing the cover fur­ther pro­tects peo­ple be­cause most in­sur­ers of­fer safe travel and cri­sis man­age­ment guide­lines and train­ing for their pol­i­cy­hold­ers to make them more aware of the risk and the prac­ti­cal mea­sures that can be taken to safe­guard them­selves,” ex­plains Et­tridge.

A few risk mit­i­ga­tion tech­niques to ad­vise clients of are: to not travel the same route ev­ery day, even if they are go­ing to the same des­ti­na­tion; trav­el­ling at dif­fer­ent times to avoid fall­ing into any sort of rou­tine that a po­ten­tial ex­tor­tion­ist could learn and ex­ploit; when trav­el­ling it is im­por­tant that your client doesn’t ap­pear like a wealthy busi­ness­man, as this im­me­di­ately high­lights them as a po­ten­tial tar­get and they should avoid wear­ing suits and car­ry­ing busi­nesslike brief­cases. Ad­vise clients to not take the first taxi of­fered, but rather ar­range trans­port prior to ar­rival and con­firm their driver’s name, and prefer­ably car li­cense num­ber, so as to be sure that they are get­ting into the right ve­hi­cle.

Con­stantly be­ing aware and dou­ble check­ing facts and de­tails is a great way to mit­i­gate risk, but the sad truth is that there is no guar­an­tee of safety and crim­i­nals will con­tinue to kid­nap and ex­tort whether KRE in­sur­ance ex­ists or not. “Un­for­tu­nately kid­nap­pings will hap­pen with or with­out the ex­is­tence of the cover,” con­cludes Et­tridge.

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