Kidnap and extortion can be said to represent some of society’s most wicked crimes. They are extremely effective because of the personal anguish they create. Obviously banks and wealthy persons, whom criminals perceive as having easy access to large sums of cash, are targets.

Extortion coverage is available as a separate policy covering kidnap, ransom and extortion. It automatically covers incidents on a world-wide basis and has virtually no deductible. It also covers personal assets, reward monies and the cost of hiring independent medical and legal expertise, together with the cost of hiring professional independent negotiators.

Alternatively a bank can purchase an endorsement to include Extortion coverage under the Bankers’ Blanket Bond which covers persons and property. It should be noted that, if coverage were placed in this manner, then a deductible of the same level as that applicable to the Bond would apply.