Kidnappings in SA have been on steady increase over the years with the main targets being business owners, directors of big corporates including spazashop owners.
According to the police, as of the 2022/2023 financial year, the total number of kidnapping cases in the country reached 15,343. Gauteng had the most high with 7,818 reported and KwaZulu-Natal with 3,081 in the same period. This sudden increase is associated with the rising levels of organised violent crime in the country.
Catia Folgore, product head of Global Crisis Products at iToo Specialists, an insurance company, told Sowetan that with kidnappings for ransom being on the rise a lot of people were snatching up their express kidnapping product to protect themselves and their family against financial losses.
In the event of crisis, their consultants work with the family of the captured to negotiate with the kidnappers.
“We use specialist responders, each client has access to a 24/7 hotline crisis centre. In the event of an incident, a responder is deployed and they then assist the family with a negotiation process in order to pay a ransom and get a safe release. We then re-imburse the client accordingly. The responders will debrief the client and offer trauma counselling to everyone involved,” said Folgore.
Clients snatch up kidnapping insurance to protect them against financial losses
In times of crisis, consultants work with the captured’s family to negotiate with kidnappers
Image: Thulani Mbele
*Khaled, a Joburg eatery owner, was snatched outside his business and spent hours in the boot of his car while his kidnappers cleaned out his bank account using his cellphone banking application.
About R100,000 was transferred to various accounts and some withdrawn from different ATMs by his capturers. To avoid the impediment of daily withdrawal limits, his kidnappers kept him in a shack in the Vaal for three days as they tried to empty his bank accounts.
“I gave them all my banking information because I did not want to die because of money. All I was thinking about was to make it out alive and reunite with my wife and two daughters. It was the longest three days of my life and it was a big relief when they eventually released me and dumped me along the N1. I knew I needed to make changes in my life and protect myself and family. I had lost a lot of money which was meant for my business,” said Khaled about his 2019 ordeal.
In 2021 he signed up for a ransom and kidnapping insurance which allows an insured person to claim from his/her insurer in a life crisis event.
Kidnappings in SA have been on steady increase over the years with the main targets being business owners, directors of big corporates including spazashop owners.
According to the police, as of the 2022/2023 financial year, the total number of kidnapping cases in the country reached 15,343. Gauteng had the most high with 7,818 reported and KwaZulu-Natal with 3,081 in the same period. This sudden increase is associated with the rising levels of organised violent crime in the country.
Catia Folgore, product head of Global Crisis Products at iToo Specialists, an insurance company, told Sowetan that with kidnappings for ransom being on the rise a lot of people were snatching up their express kidnapping product to protect themselves and their family against financial losses.
In the event of crisis, their consultants work with the family of the captured to negotiate with the kidnappers.
“We use specialist responders, each client has access to a 24/7 hotline crisis centre. In the event of an incident, a responder is deployed and they then assist the family with a negotiation process in order to pay a ransom and get a safe release. We then re-imburse the client accordingly. The responders will debrief the client and offer trauma counselling to everyone involved,” said Folgore.
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Asked if the payment of ransoms was not likely to see a rise in more kidnappings or even staged kidnappings by some of their more than 3,000 clients, Folgore said their clients are urged to keep their insurance private.
“These policies are kept very confidential, so no one shares this info with anyone especially the kidnappers. When it comes to fraudulent claims, that is the risk every insurance company takes, but together with our responders a lot of investigation does go into some cases, so we will know if there is fraud that is being committed or not,” said Folgore.
She said previously these types of policies provided standard cover for kidnap and ransom, extortion and wrongful detention only. They now refer to these policies as Special Contingency policies where they provide cover for 14 different events, one of them being express kidnapping.
TIPS TO AVOID KIDNAPPINGS
*Not his real name
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