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In harm’s way

Thursday, June 11, 2015 @ 8:00 PM | By Jean-Claude Rioux

Stories about piracy and kidnapping are more interesting than stories about the law of insurance. Perhaps the only way to get insurance mentioned in a Hollywood film is to have the hero appear as a hostage negotiator retained by an insurance company pursuant to a kidnap and ransom policy. However, you really can buy this stuff. Typical coverage clauses might read as follows:

A. EXTORTION/RANSOM MONEYS PAYMENT

We will pay you for Extortion/Ransom Moneys paid by you or a Covered Person(s) resulting directly from the following...