Crisis Management

Comprehensive Crisis Management Insurance - Worldwide.

We offer a comprehensive worldwide Crisis Management service in the following areas:

Kidnap & Ransom

Our team provides the best possible kidnap and ransom protection, backed by an unparalleled level of expertise and the kind of service that makes our clients treat us as close partners.

Piracy

Our bespoke cover allows our clients to get the protection they need worldwide whilst avoiding unnecessary insurance costs.

Terrorism & Political Violence

Aspen offers comprehensive coverage for terrorism and political violence perils which standard property and liability insurers exclude.

Active Assailant

Active Assailant incidents pose a severe and unpredictable risk to both businesses and people. Our product provides the best possible protection from the unpredictable threat posed by this type of incident.

Tim Strong

Head of International Crisis Management

Kidnap & Ransom

Kidnap for ransom, extortion and detention are ever- evolving risks, changing not only in location but also in the threat posed. Activity can spring up rapidly in emerging kidnap hotspots as criminal organizations with global reach look to exploit any opportunity.

We have broad experience which comes from working with a diverse client base over many years: from high net worth individuals and their families, to international organizations with staff operating across the globe.

The needs of each policyholder can be very different and our underwriters work hard to understand all of our clients, writing the policy that’s right for them.
Our kidnap and ransom insurance provides flexible, bespoke protection across the full range of risks; everything from ransom payments to legal costs and personal accident benefits.

We can also include a range of extensions specific to employers to reduce legal liabilities and resulting business interruption costs amongst other exposures specific to their needs.

Response consultants

Should the unfortunate occur, our chosen market-leading security consultants Crisis24, a GardaWorld company, are able to act immediately wherever you are, applying local knowledge and experience to formulate the most effective and safest response to the specific threat faced. The fees of these professionals needed to help solve delicate, painful and potentially very costly situations are covered on an unlimited basis.

Capacity

Utilizing our Lloyd’s paper, a maximum line of US$50 million is available across the major heads of cover.

Client confidentiality

Aspen’s underwriters maintain the strictest levels of confidentiality and will never disclose client information.

Coverages

Our policies indemnify against a host of additional expenses that a client may incur during the resolution of an incident. These may include:

  • Fees and expenses of an independent negotiator
  • Fees and expenses of public relations consultants and interpreters
  • Cost of travel and accommodation
  • Costs of medical and/or psychiatric care Interest on authorised loans to meet a ransom
  • Costs of communication, recording equipment and advertising
  • Personal financial loss, where given
  • Fees and expenses of independent forensic analysis Reasonable costs of cosmetic or plastic surgery
  • All other reasonable expenses incurred by the assured or insured persons in negotiating the release of the victim with prior written approval of the underwriters

Piracy

Piracy is an ever-changing risk which grows, moves and adapts around the world as criminal gangs exploit opportunities wherever they appear.

We offer US$20 million kidnap and ransom cover and access to our unparalleled risk consultants Crisis24, a GardaWorld company, to ensure that you are fully covered for any eventuality.

Since 2016, pirate groups in the Gulf of Guinea have cemented their shift away from the hijacking of tankers for product theft, and have instead turned their focus to the kidnap of crew for ransom. 2020 saw more than 120 incidents in the region, including over 50 hijackings, attacks and boardings and incidents are spreading further offshore each year, increasing the risk map for vessels in the Gulf of Guinea.

Our bespoke cover allows our clients to get the protection they need worldwide whilst avoiding unnecessary insurance costs and our chosen response consultants, Crisis24, a GardaWorld company, are the market leading specialists in managing piracy, hijacking and kidnap and ransom events. Should the unfortunate occur, they are able to deploy experienced response consultants to our clients wherever they are in the world and advise on all aspects of any negotiation to help bring your crew, vessel and cargo home safely.

Coverage

Aspen piracy cover protects vessel owners, operators and charterers against:

  • Ransom, detention and hijack – US$20 million
  • Extortion, where given – US$20 million
  • Transit – US$20 million
  • Legal liability – US$20 million
  • Loss of hire – US$20 million, up to 365 days cover available (stand- alone or as an extension)
  • Personal Accident – US$1.25 million, up to US$250,000 per covered person (higher limits on request)
  • Response company fees: Unlimited. We will pay for and provide for an expert response consultancy to advise on all aspects of any negotiation to help bring your crew, vessel and cargo home safely.

Additional Expenses

Our policy also covers additional expenses incurred against an insured event, which may include:

  • Fees and expenses of an independent negotiator
  • Fees and expenses of public relations consultants and interpreters Cost of travel and accommodation
  • Costs of medical and/or psychiatric care Interest on authorized loans to meet a ransom
  • Costs of communication, recording equipment and advertising Personal financial loss, where given
  • Fees and expenses of independent forensic analysis Reasonable costs of cosmetic or plastic surgery
  • All other reasonable expenses incurred by the assured or insured persons in negotiating the release of the victim with prior written approval of the underwriters
  • Response company fees: Unlimited. We will pay for and provide for an expert response consultancy to advise on all aspects of any negotiation to help bring your crew, vessel and cargo home safely.

Terrorism & Political Violence

We protect a range of clients across the globe with a particular appetite for assureds with exposure in emerging markets.

As a client focused organisation we offer the choice of either Lloyd’s or company paper with capacity of up to US$100 million any one risk.

Whilst the team does offer coverage on standard market wordings we also have the ability to tailor our products to cater for the individual threats our clients face.

By working closely with other teams at Aspen we can offer combined products which include Cyber, K&R and Political Risks. With our flexible approach to underwriting we are able to offer policy periods of up to 60 months for construction risks.

Client and broker service are at the heart of our values and the team prides itself on its market leading response times. We understand that demand for coverage in an increasing uncertain world can require policies to be bound on the same day as submission.

Aspen also ensures that any losses are handled rapidly and proactively, thereby minimising the impact for our clients.

In addition to in-house underwriting expertise, Aspen benefits from its long-standing relationship with IHS Markit, an acknowledged world leader in the field on international risk mitigation, and Crisis24, a GardaWorld company.

IHS distinguishes itself from other security services companies by taking a proactive, intelligence-led approach to assessing, monitoring, training for and protecting against risk in all its forms.

Coverage

  • Physical damage to property worldwide
  • Business interruption and extra expense following property damage
  • Full building values or a first-loss basis
  • Injury or death to third parties or company employees

Perils

  • Terrorism and sabotage
  • Malicious damage
  • Riots, strikes and civil commotion War and civil war
  • Coup d’état, insurrection, rebellion and revolution
  • Terrorism liability

Active Assailant

Active Assailant incidents pose a severe and unpredictable risk to both businesses and people.

2020 saw an increase in the frequency and severity of these incidents through both lone wolf gunmen and terrorist attacks, this has become a very real threat to all institutions.

Aspen Crisis Management has a wealth of experience across terrorism and wider crisis management enabling a unique perspective on the different facets and motivations of an active assailant incident.

We are well-positioned to provide coverage that meets all aspects of an event, including response capability from our response consultants Crisis24, a GardaWorld company, who can manage pre- incident training through to post-incident recovery.

Aspen offers specialist insurance cover, to prepare for these ever- changing threats.

Our Active Assailant product provides the best possible protection from the unpredictable threat posed by this type of incident, with market-leading capacity of up to US$50 million any one risk.

Insured Event

  • Active Assailant Incident –A physical attack by an Active Assailant at a Covered Location involving the use of a Weapon; and the subsequent action of Authorities..
  • Threat Incident – Any specific threats to inflict bodily injury, or damage, destroy or contaminate property.

Coverage

  • Legal Liability – Coverage for the Damages and Claim Expenses an insured will become legally obligated to pay following an incident.
  • Physical Damage – Coverage for the cost of physical loss, damage or destruction to Insured property resulting from an Active Assailant incident.
  • Business Interruption – Indemnification for business interruption loss resulting from physical damage or denial of access following an incident.
  • Loss of Attraction – Cover for the loss of gross earnings due to a downturn in potential customers following an Active Assailant incident
  • Extra Expenses – Cover for a range of extra expenses and costs likely to be incurred by an insured.
  • Bodily Injury/Death Benefit – Fixed Benefit for bodily injury and/or death caused by an incident.
  • Response Fees – The Cost of Critical Incident response from our market leading security consultants Crisis24, a GardaWorld company