Summary of Cover

Insured Events

Kidnap

Kidnap means the illegal taking and holding captive of one or more Covered Person(s) by persons who then demand specifically from assets of the Assured or the assets of an Insured Person a Ransom as a condition of the release of such captive(s).

Extortion

Exortion means the making of illegal threats either specifically to the Assured or to a Covered Person to kill, injure or abduct a Insured Person(s), or cause physical damage to or loss of an lnsured Vessel, or introduce a Computer Virus on board or connected with the lnsured Vessel designed to damage, destroy or corrupt the Assured’s computerized data

Detention

Detention means the holding under duress of an Insured Person, or any Covered Person resident with the Insured Person, for whatever reason and whether by authorities legally constituted in the place of custody or by others. With respect to salary payments only, Underwriters’ liability shall be for a period of 60 months or until 30 days after the date on which the detention ceases, whichever occurs first.

Hijack

Hijack means the illegal holding under duress for a period in excess of six hours of an lnsured Vessel and/or a Covered Person whilst travelling on an aeroplane, vehicle or watercraft.

Insured Losses

Unless otherwise specified below, all Insured Losses are covered up to the full policy limit but subject to the overall policy aggregate

Ransom

Ransom means cash and/or marketable goods or services surrendered or to be surrendered by or on behalf of the Assured or Insured Person(s) to meet a Kidnap or Extortion demand.

Ransom surrendered or lost in transit

The loss in transit of a Ransom by actual destruction, disappearance or wrongful abstraction while being conveyed by the order of such persons as have demanded it by any person who is duly authorised to do so by the Assured or an Insured Person.

Response Consultants

Response Consultants fees & expenses.

Additional expenses

• Fees and expenses for an independent negotiator
• Fees and expenses of an independent public relations consultant and/or interpreter;
• Costs of travel and accommodation
• Fees for independent psychiatric care and/or medical care
• Fees for independent legal advice
• Reward
• Personal Financial Loss
• 100% of a kidnapped, detained or hijacked Insured Person's gross salary
• 100% of the gross salary including bonuses and allowances for a temporary replacement of a kidnapped, detained or hijacked Insured Person
• The costs incurred by the Assured for the salaries of employees specifically designated to assist in negotiating
• Sums payable by way of interest on loans raised specifically to meet a Ransom
• Fees and expenses of security guards
• Costs of communication equipment, recording equipment and advertising
• Reasonable fees and expenses of independent forensic analysts
• The reasonable costs of cosmetic or plastic surgery
• Reasonable costs and expenses, including but not limited to bunkers, demurrage, warehousing and port expenses including the costs for the vessel calling at an unscheduled port after it is released and the cost of fuel oil used while it is hijacked.

Rest and Rehabilitation expenses

Rest and rehabilitation expenses or both for the victim and his/her immediate family

Amount covered: USD 25,000 per Insured Event

Personal Accident

Personal Accident which means the Loss of Limb, Loss of Sight, Loss of Extremity, Permanent Total Disablement or Death sustained by the Insured Person(s) as the result of an Injury provided that such Injury causes his or her death or disablement within twelve calendar months from the date of the incident.

Amount covered: USD 100,000 per Covered Person per Insured Event, sub-limited to USD 15,000 in respect of Seamen and USD 1,000,000 in the annual aggregate

Legal Liability

Being awards and judgements imposed upon and paid by the Assured as the result of an action for damages brought by, or on behalf of, either Covered Person(s) or his or her legal representative or shareholders solely and directly as a result of a Kidnap, Extortion, Detention or Hijack

In addition we waive all rights of subrogation against other marine and/or war risk policies.