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W H O ’ S WAT C H I N G YO U A N D H O W T O F I G H T B AC K
Twelve Leaders in Cybersecurity; Can Tech Disrupt War?; The Intrapreneurship Boom
Soledad O’Brien on Smart Guns; Essential Insurance for the Affluent; How to Manage Market Volatility
Defending Your Home; The Safest Luxury Cars; New Technologies for Protecting Wine Collections
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TEAMChristine Schoenwalder, Vice President, Business Development Executive
Mia Campagna, Sales and Risk Consultant
Amanda Martinez, Assistant Vice President, Risk Consultant
Willie Lindsey, Risk Consultant
CLIENT RISK PORTFOLIOS UNDER MANAGEMENT17,000+, including a significant portion of the Forbes 400
PERSONAL RISK ADVISORS NATIONWIDE200+
HIGH NET WORTH PERSONAL INSURANCE EXPERIENCESchoenwalder, 30 years; Campagna, 15 years; Martinez, 5 years; Lindsey, 11 years
PROFESSIONAL SERVICES PROVIDEDPersonal risk analysis, insurance program design and management, insurance placement services, loss mitigation advice and claims advocacy
NATIONWIDE LOCATIONS31 local offices
[email protected]@[email protected]@marsh.com
WEBSITEwww.marshpcs.com
MARSH PRIVATE CLIENT SERVICES 540 West Madison Avenue, Suite 1200, Chicago, IL 60661 312.622.8209
L E A D I N G I N S U R A N C E A D V I S O R | C H I C A G O , I L
I L L U S T R A T I O N B Y N A N C Y J A N U Z Z I
Does my family need kidnap and ransom protection? B Y C H R I S T I N E S C H O E N WA L D E R
Left to right: Mia Campagna, Amanda Martinez, Christine
Schoenwalder, Willie Lindsey
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MARSH PRIVATE CLIENT SERVICES 540 West Madison Avenue, Suite 1200, Chicago, IL 60661 312.622.8209
ith more people today traveling abroad for business, pleasure or an excursion to an additional resi-dence, the threat of a kidnap and ransom or extortion incident con-tinues to increase.
But a family that has examined the issue in advance may have greater abil-ity to control the incident and improve the outcome and likelihood for the safe return of a family member—should the unthinkable happen.
Some events typically covered by a kidnap and ransom (K&R) policy include: kidnapping for ransom; wrongful deten-tion/holding under duress without a ransom demand; extortion to divulge confidential or private information; and hijacking of an aircraft, motor vehicle or waterborne vessel.
One of the primary benefits of K&R coverage is access to an experienced crisis-management team. Insurers are able to immediately engage consultants in crisis/security response firms who specialize in managing and negotiating during these incidents.
In addition to reimbursement for a ran-som payment, a K&R policy will cover related expenses, such as security response-firm consultant fees and reimbursement for addi-tional expenses, which may include rewards to informants, travel and accommodation costs, legal advice and medical or psychi-atric care.
Stephen Poux, senior vice president and head of Risk Management Services and Loss Prevention at AIG Private Client Group, sees the importance of offering clients a
holistic approach. “Proactively addressing situations that might put an individual or family at risk is just as important as the cov-erage itself,” Poux says. “By working with policyholders to evaluate their unique life-styles, we can provide them with tools to help reduce the likelihood of something happening in the first place.”
A COMPLEX SITUATIONWhen the lives of loved ones are at stake, security experts agree it is important for families to be prepared to pay ransom de-mands. However, advisors also add that negotiating ransom demands, as opposed to meeting the kidnappers’ initial demand, has proven to be the safest way to ensure the safe return of loved ones. Generally, security firms find that reaching an ac-commodation through negotiation is achievable in most cases, even with unso-phisticated kidnappers.
While it is in a family’s best interest to negotiate ransom demands, it should be mentioned that many authorities and
governments strongly oppose the payment of any ransom and refuse to negotiate ran-som demands. In the event of a kidnapping, ransom, or extortion incident, a family will face making many such complex decisions.
HELP IS AVAILABLEMost insurers have relationships with secu-rity firms that have expertise in dealing with kidnap, ransom and extortion; have offices in many countries; and offer a range of risk-analysis programs and other security services.
Oftentimes, security firms will conduct a comprehensive analysis to determine the family’s level of risk and provide their ex-pertise on preventative measures. Secu-rity firms will also assess a family’s level of risk for becoming a target and help family members determine what their response should be to a kidnapping, ransom or ex-tortion incident.
ADVICE FROM A TRUSTED INSURANCE RISK ADVISORIf any of the following red flags apply to you, your first step should be a conversa-tion with a qualified insurance advisor. By taking this step, you’ll be on your way to a more secure future. Do you:
• Have a high-visibility profile and lifestyle?• Have an actual or perceived position
of power?• Travel abroad for business or pleasure?• Travel via private vessel on the sea or
by air?• Have family members who are residing
overseas for an extended period of time, including children studying abroad?
• Have concerns about the increasing danger of abduction or extortion?
A trusted personal insurance risk advisor who regularly works with high net worth cli-ents can help you examine potential risks. l
M A R S H P R I V A T E C L I E N T S E R V I C E S
CHRISTINE SCHOENWALDER, BUSINESS DEVELOPMENT EXECUTIVE, JOINED
MARSH PCS IN 2012 AND HAS NEARLY 30 YEARS OF INDUSTRY EXPERIENCE.
Mia Campagna, sales and risk consultant, rejoined Marsh PCS in 2016 after
working for another firm for a brief period of time and has more than 18 years of
industry experience. Amanda Martinez, sales and risk consultant, joined Marsh in 2012
and has been in the industry since 2009. Willie Lindsey, sales and risk consultant,
joined Marsh PCS in early 2015 and has worked in the industry for more than 11 years. l
A B O U T U S
Even business travelers have to be wary of kidnapping in today’s world and take extra precautions when abroad.W
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Marsh Private Client Services is featured in Worth® 2016 Leading Wealth Advisors™, a special section in every edition of Worth® magazine. All persons and firms appearing in this section have completed questionnaires, have been vetted by an advisory group following submission by Worth®, and thereafter paid the standard fees to Worth® to be featured in this section. The information contained herein is for informational purposes, and although the list of advisors presented in this section is drawn from sources believed to be reliable and independently reviewed, the accuracy or completeness of this information is not guaranteed. No person or firm listed in this section should be construed as an endorsement by Worth®, and Worth® will not be responsible for the performance, acts or omissions of any such advisor. It should not be assumed that the past performance of any advisors featured in this special section will equal or be an indicator of future performance. Worth®, a publication of the Worth Group LLC, is a financial publisher and does not recommend or endorse investment, legal or tax advisors, investment strategies or particular investments. Those seeking specific investment advice should consider a qualified and licensed investment professional. Worth® is a registered trademark of the Worth Group LLC.
Ken Sidlowski Assistant Vice President, Risk Consultant
Amanda Martinez Assistant Vice President, Risk Consultant
Willie Lindsey Risk Consultant
Marsh Private Client Services540 West Madison Avenue, Suite 1200
Chicago, IL 60661Tel. 312.622.8209
[email protected]@marsh.com
R E P R I N T E D F R O M
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