Special Risks Insurance
Travelers protects businesses from complex global risks
Our team has been at the forefront of special risks insurance for more than 30 years. During this time we’ve learned a lot about the security threats that can occur and, more importantly, the support that businesses need when incidents happen. Whether it’s a company that operates locally or has operations around the globe, they all can face exposure to threats covered in our special risks policy.
Travelers’ special risks product is tailored to suit the needs of businesses of all sizes worldwide. In addition to a flexible cover plan, we work with our response provider SPS to provide specialist expertise and ensure businesses get the right advice when incidents occur. We also look to tailor the cover for your bespoke needs and can offer a policy period from a one-day “trip” up to three years.
Our appetite
We cover
These fall within our appetite, and we’re happy to discuss details.
- Corporate (small, medium and large)
- High net worth individuals and families
- Non-governmental organisations (NGOs)
- Ship owners
- Media entertainment personalities and their families
- Aid agencies
- Mining companies
- Oil and gas companies
- Accounting firms
- Law firms
- IT firms
Travelers advantage
SPS
SPS is a leading risk management and assistance company with more than 30 years experience of providing tailored strategic and operational solutions. As part of the wider SPS Global Assistance Group, the team has a global network with extensive capabilities and experience. Their in-house security team consists of experts with military, law enforcement, government and commercial backgrounds, offering a range of expertise.
Policyholders will have access to:
- SPS risk portal. Expert consultants for special risks and criminal protection response products.
- SPS risk tracking. Access to a mobile tracking app for high-risk destinations.
- SPS helpline. Access to the 24/7/365 global assistance and response centre.
- 30 years providing tailored strategic and operational solutions to clients.
- Supporting organisations and individuals across 130 countries.
- Part of the SPS Global Assistance Group, which provides comprehensive global risk management and assistance services.
- Experience from handling thousands of cases, ranging from complex evacuations through to travel assistance.
- UK-based Global Response Centre with support centre located in Johannesburg.
Dedicated team with global experience operating in difficult environments against a wide range of threats. Languages spoken include:
- Afrikaans
- Arabic
- English
- French
- German
- Italian
- Mandarin
- Russian
- Swahili
- Zulu
Special risks covers & highlights
-
Corporate special risks
- Kidnap for ransom
- Extortion (product, proprietary information, bodily injury, threat, property)
- Hijack
- Illegal detentions
- SPS fees and expenses
- Cover limits
- Kidnap and ransom: US$ 50 million per event
- Piracy: US$ 10 million per event
-
Security resource and response
- Protecting your people, your property and your brand for 35 types of security incidents, from abduction to workplace violence
- Cover limits
- The fees and expenses of SPS to provide expertise and advice for up to 60 days per event
-
Piracy
- Piracy of vessel
- Kidnap of crew
- Cover limits
- Piracy: US$ 10 million per event
- Loss of hire: up to US$ 10 million per event
-
Fixated threat
- Extortion
- Disappearance
- Stalking
- Threat
- Blackmail
- Stalking
- Cover limits: up to US$ 1 million per event
-
Elite family protection (for individuals)
- Kidnap
- Extortion
- lIlegal detention
- Threats without ransom demand
- Mysterious disappearance
- Express kidnap (short term abduction)
- Hijack
- Hostage crisis
Add-ons & extensions
These items may be available to add on to your policy
Kidnap and ransom
- Emergency political evacuation, repatriation and relocation expenses
- Disappearance
- Business interruption due to an insured event
- Threat response
- Hostage crisis
- Product loss, recall, destruction costs (due to extortion)
- Child abduction
- Workplace violence or assault
- Express kidnap
Piracy
- Loss of hire
Elite family protection (individuals)
- Stalking
- Aggravated burglary
Related products
Terrorism & political violence
In a volatile world, our expertise helps protect businesses against the devastating effects of terrorism or politically motivated violence.
Cyber
Every company faces cyber threats and risks. Cyber cover helps businesses deal with the increasing complexity of digital crime.
Let’s start the right conversation
For business
Find a broker
If you’re looking for covers and have a broker, ask about Travelers products.
If you need a broker, start with the right broker directory.
Need to call us directly? Contact us.
Case studies
Talent/stalking
A well-known TV personality received a string of adoring and occasionally amorous direct social media messages. Having responded politely to first posts, she soon realised that the sender was infatuated and wanted an intimate relationship, so she blocked his messages.
The victim knew she was being tagged in public posts but had no idea that thousands were being sent. After 12 months, the individual turned up at her place of work. He waited for her to leave the office with colleagues, then followed her to a local restaurant where he approached her from behind, kissed her on the cheek and demanded to know why she had stopped responding to him.
Response: SPS provided immediate guidance on safety and evidence gathering, an assessment report detailing management recommendations, liaised with law enforcement, and advised her employer about the management of problematic social media communication received by the victim and her colleagues.
HNW/threat and extortion
A HNW director of a software company became the focus for an angry customer, who obtained his home address and began sending threats to physically harm the client, his wife and children, using social media and letters, unless he received compensation.
Suppliers of various services close to the victim’s home were also co-opted by the complainant to deliver goods and services the director had not ordered as a means of stalking the family by proxy. On several occasions a man thought to be the complainant was seen loitering in the vicinity of the director’s home.
Response: SPS provided a case assessment giving opinion on risk in the domains of violence, persistence and disruption and setting out management recommendations. The report was used to assist law enforcement and to obtain effective injunctive orders. The client was also given guidance on the management of residual risk of recurrence, both at home and at work.
Public-figure/reputational threat and blackmail
A former business leader received frequent social media posts and emails over a period of several weeks purporting to be from a former university friend. The emails made allegations about his past, claiming that he had bullied other students whilst at university and routinely made sexual and racial comments to and about fellow students. The sender demanded money, stating the ‘evidence’ would be given to news reporters unless the Chairman complied.
Response: SPS reviewed the correspondence and background information, reached opinion as to motivation and the risk associated with persistence, escalation and disruption, and provided a management plan focused on the cessation of all communication with the sender, whose profuse social media posting and emails slowed to a trickle over the course of three weeks and then ceased altogether.
Speciality claims FAQs
Review these FAQs to gain familiarity with special risks claim requirements
Claims are initially reported by email. Formal notification is then placed via ECF2.
Special risks provides support and financial reimbursement to the insured. The risks covered typically include kidnap, extortion, hijack, threats, emergency political evacuation and repatriation, hostage crises and detentions. The cover provides support and immediate access to SPS response consultants who provide direct advice to the insured.
Special risks insurance is particularly relevant for multinational corporations and NGOs with international operations, and companies that take their employees abroad. Organisations in certain jurisdictions should also consider the domestic risk and consider the exposure to their employees. Those involved in the aviation, oil and gas, energy, mining, pharmaceuticals and maritime sectors should be particularly vigilant, as well as high worth individuals and families.
A vital benefit of our policies is that they provide priority access to SPS from the moment an incident occurs. The policy provides businesses with initial telephone assistance and deployment of consultants to the relevant location where required.
Should an incident occur, SPS will act independently of Travelers to advise the insured on appropriate options to safely manage the incident, obtain the release of the victim, and mitigate the short to long terms risks faced by the insured and their staff. Drawing on years of experience in managing crisis situations, plus strong local knowledge, they will help the insured to make fully informed decisions.
We encourage our policyholders, whether businesses or other organisations, to take whatever steps are necessary to reduce the possibility of a crisis. Nominated response consultants are able to offer prevention services such as crisis management planning, risk awareness, defensive driving and surveillance avoidance techniques.
A Response Consultant is a specialist consultant used for global support for responding to and resolving cases of kidnap for ransom, extortion, threat and illegal detention. Upon commencement of a policy, a nominated response consultant will be named within and their contact details provided.
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