{"id":11398,"date":"2014-08-30T09:00:15","date_gmt":"2014-08-30T13:00:15","guid":{"rendered":"http:\/\/www.Centives.net\/S\/?p=11398"},"modified":"2014-08-29T20:40:16","modified_gmt":"2014-08-30T00:40:16","slug":"the-economics-of-kidnapping-2","status":"publish","type":"post","link":"https:\/\/www.Centives.net\/S\/2014\/the-economics-of-kidnapping-2\/","title":{"rendered":"The Economics Of Kidnapping"},"content":{"rendered":"<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.Centives.net\/S\/wp-content\/uploads\/2014\/08\/083014_0029_TheEconomic1.jpg\" alt=\"\" width=\"640\" height=\"511\" \/><\/p>\n<p>Derek Kravitz and Colm O&#8217;Molloy took a look at the murky world of hostage negotiations:<\/p>\n<ul>\n<li>&#8220;Kidnap and Ransom&#8221; (K&amp;R) insurance has become a booming industry as companies increasingly insure their executives in conflict ridden areas.<\/li>\n<li>A periodic premium is paid, and if a kidnapping happens, the ransom is paid by the insurer.<\/li>\n<li>Total premiums have risen from $50 million ten years ago to at least $250 million today.<\/li>\n<li>The average ransom paid is around $3.75 million. Premiums can be as high as $1,500 per employee, per day.<\/li>\n<li>Exact numbers are difficult to find as those ransomed typically sign non-disclosure agreements in an attempt to prevent other groups from being encouraged to try kidnappings.<\/li>\n<li>The practice is controversial. According to one estimate Al-Qaeda and other groups have made more than $125 million through ransom payments to fund their operations.<\/li>\n<li>Yet the practice continues to grow \u2013 big news pieces about piracy, terrorist, and other risks has pushed companies to purchase more of the policies.<\/li>\n<li>Kidnappings used to mostly be associated with Latin America. But kidnappings in the Middle East have grown from 4% of the world total to 17% in the last decade.<\/li>\n<\/ul>\n<p>Read about the business, the &#8220;kidnap reports&#8221; that organizations can buy, the details of one K&amp;R insurer, and more over <a href=\"http:\/\/www.theguardian.com\/world\/2014\/aug\/25\/murky-world-hostage-negotiations-price-ever-right-insurance\">here<\/a>.<\/p>\n<p>Source: <a href=\"http:\/\/www.theguardian.com\/world\/2014\/aug\/25\/murky-world-hostage-negotiations-price-ever-right-insurance\">The Guardian<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Derek Kravitz and Colm O&#8217;Molloy took a look at the murky world of hostage negotiations: &#8220;Kidnap and Ransom&#8221; (K&amp;R) insurance has become a booming industry as companies increasingly insure their executives in conflict ridden areas. A periodic premium is paid, and if a kidnapping happens, the ransom is paid by the insurer. Total premiums have [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11397,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11398","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-bulletin"],"jetpack_featured_media_url":"https:\/\/www.Centives.net\/S\/wp-content\/uploads\/2014\/08\/083014_0029_TheEconomic1.jpg","_links":{"self":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/11398","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/comments?post=11398"}],"version-history":[{"count":3,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/11398\/revisions"}],"predecessor-version":[{"id":11401,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/11398\/revisions\/11401"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/media\/11397"}],"wp:attachment":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/media?parent=11398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/categories?post=11398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/tags?post=11398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}