The ranking is published by Control Risk, a UK-headquartered
consultancy organisation which chronicles reports of abductions. It is
often referred to by international reinsurers for providing ‘kidnap and
ransom’ cover to both Indian and MNCs.
Insurers said this does not mean that neighbouring countries like
Afghanistan or Pakistan are any safer. What it indicates is that the
number of complaints about kidnapping is higher in India. Although it
may not be an organised business the way it is in some South American
countries, there are many incidents that take place in the north and the
east. A little wonder that India is now seen as a ripe market for
selling kidnap and ransom (K and R) insurance policies.
“The rankings are based not on insured events but on actual cases
reported. India stands out because of the sheer numbers and the vast
spread of the population in remote areas,” said Sanjay Radhakrishnan,
CEO of JLT Independent Insurance Brokers, who said the Indian arm of
UK’s JLT Group which has been arranging K and R cover for corporates for
25 years.
M Ravichandran, president of Tata AIG General Insurance, told TOI,
“India ranks high when it comes to kidnapping. High net worth
individuals, senior corporate officials and children are being targeted.
In the last two years, inquiries for KRE ( (Kidnap and Ransom
Extortion) policies have seen a rising trend.”
Source:
Leadership Newspaper
Image Credit: Times of India
No comments:
Post a Comment