Kidnap & Ransom Insurance Market Development in Latin America and Africa Examined by Timetric in Its New Report Available at MarketPublishers.com16 Oct 2017 • by Natalie Aster
LONDON – Kidnapping is viewed as a rapidly-growing threat for wealthy and noteworthy segments of society, as it is a source of large amounts of money with relatively low risks. The overall rate of kidnapping has increased considerably worldwide, with an average 2 people abducted every hour and appr. USD 1.5 billion spent on ransom every year.
During January, 2015 – September, 2016, the African region accounted for over 60% of kidnappings of foreigners worldwide, with Libya and Nigeria making the largest contribution.
To mitigate the threat of kidnapping and abductions, and also secure financial sums, kidnapping and ransom insurance have emerged as an effective, if not yet fully efficient, solution. However, despite different benefits provided by kidnap and ransom insurance, this product hasn’t achieved considerable penetration in both developing and developed markets.
Timetric's new research study “Kidnap & Ransom Insurance in Latin America and Africa” offers an extensive analysis of the historical evolution and expansion of the kidnap and ransom insurance industry in the Latin American and African regions. This report reviews the most recent developments in this field in these regional markets, sheds light on the major risks associated with kidnap and abduction and also risks covered by insurance products, comprises an overview of the current demands regarding kidnapping, abductions and ransom in the examined regions, includes an examination of kidnap and ransom insurance as an important risk-mitigation tool. It also discusses possible reasons for low adoption of kidnap and ransom insurance in Latin America and Africa.
Reasons to Purchase:
- gain better understanding of the kidnap and ransom insurance industry performance in the Latin Americana and African regions;
- become abreast of the key market drivers and trends;
- learn about key regulations applicable to the examined regional markets;
- find about various competitive strategies adopted in these regions;
For many other in-demand research reports by this publisher follow Timetric page at MarketPublishers.com.