What Is Kidnap and Ransom Insurance? With Polaris Risk
#HighNetWorthInsurance #ExecutiveProtection #CrisisManagement
Gordon Coyle sits down with Steve Ward, founder of Polaris Risk, to break down kidnap and ransom risk for high net worth individuals, family offices, executives, and business owners. They cover what a K&R policy actually covers, how private security firms work differently from law enforcement, why the first hours of an incident are critical, and why coverage starts at $5,000 to $10,000 a year.
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Kidnap and ransom insurance, also called KR&E (kidnap, ransom, and extortion), is not just for billionaires. Anyone with a public-facing profile or net worth between $5 million and above is exposed, and social media has expanded that risk significantly. A K&R policy covers far more than the ransom itself: PR costs, crisis management, professional negotiators, law enforcement coordination, 24/7 hotline response, and medical care for overseas incidents. Starting premiums run $5,000 to $10,000 per year for substantial limits. Steve Ward explains why private security firms can move in hours when law enforcement ramp-up time is measured in days, why their priorities do not always align with a family's priorities, and why the real statistics on kidnap and ransom incidents are far higher than what Google or public reporting shows. Crypto holders represent a fast-growing and largely unaddressed new exposure in the K&R space.
If you have a public profile or significant net worth, this is a conversation worth having before you need it.
⏱️ Timestamps
0:00 — Introductions: Gordon Coyle and Steve Ward, Polaris Risk
0:29 — Who is exposed to kidnap and ransom risk
0:59 — How social media and geopolitics are driving K&R threats
1:52 — What kidnap and ransom insurance is and what it covers
2:46 — Why having a plan before an incident matters
3:33 — Private security firms vs. law enforcement: key differences
4:55 — Why timing in the first hours is critical
6:21 — What a K&R policy actually pays for
7:31 — How much kidnap and ransom insurance costs ($5,000 to $10,000/year)
8:51 — Why real K&R statistics are underreported
9:24 — Crypto holders as an emerging K&R target
9:50 — Closing thoughts: who should explore this coverage