Kidnap: Inside the Ransom Business

Kidnap for ransom is a lucrative but tricky business, with most abductions peacefully resolved for low ransoms. Insurers have solved these problems for their customers by creating an intricate and powerful private governance system ordering transactions between the legal and criminal economies.

Format: Hardback
Length: 272 pages
Publication date: 07 February 2019
Publisher: Oxford University Press

Kidnap for ransom is a lucrative but tricky business. Millions of people live, travel, and work in areas with significant kidnap risks, yet kidnaps of foreign workers, local VIPs, and tourists are surprisingly rare and the vast majority of abductions are peacefully resolved - often for remarkably low ransoms. In fact, the market for hostages is so well ordered that the crime is insurable. This is a puzzle: ransoming a hostage is the world's most precarious trade. What would be the right price for your loved one - and can you avoid putting others at risk by paying it? What prevents criminals from maltreating hostages? How do you (safely) pay a ransom? And why would kidnappers release a potential future witness after receiving their money?

Kidnap: Inside the Ransom Business uncovers how a group of insurers at Lloyd's of London have solved these thorny problems for their customers. Based on interviews with industry insiders (from both sides), as well as hostage stakeholders, it uncovers an intricate and powerful private governance system ordering transactions between the legal and the criminal economies.

The book begins by examining the motivations behind kidnappings, from political and economic grievances to personal vendettas. It then explores the various methods used by kidnappers, from stealthy abductions to high-profile raids. The book also delves into the role of governments and international organizations in responding to kidnappings, from negotiating ransom payments to deploying military forces.

One of the key themes of the book is the role of insurance in the kidnap business. Insurers have developed a range of products and services to mitigate the risks associated with kidnappings, including ransom insurance, travel insurance, and asset protection. The book explains how these products work and how they are used by clients to protect themselves and their assets from the threat of kidnapping.

The book also sheds light on the complex relationships between kidnappers, insurers, and governments. Kidnappers often rely on insurers to cover their ransoms, and insurers in turn rely on governments to provide law enforcement and diplomatic support. The book explores the challenges that these relationships present, including the risk of insurance fraud and the ethical dilemmas that arise when paying ransoms.

Another important theme of the book is the impact of kidnappings on the victims and their families. The book describes the emotional and psychological toll that kidnappings take on the victims, as well as the financial and social consequences for their families. It also explores the various support services available to victims and their families, including counseling, financial assistance, and legal aid.

In conclusion, Kidnap: Inside the Ransom Business is a comprehensive and insightful exploration of the kidnap business. It provides a detailed account of the motivations, methods, and impact of kidnappings, as well as the role of insurance in mitigating the risks associated with them. The book is a valuable resource for anyone interested in understanding the complexities of the kidnap business and the challenges that it presents.

Weight: 400g
Dimension: 147 x 224 x 24 (mm)
ISBN-13: 9780198815471