Rising Kidnappings in South Africa: A Disturbing Trend Targeting Vulnerable Communities
Excerpts taken from an article on BUSINESSTECH, Kidnapping syndicates in South Africa are now going after ‘easier’ targets, indicate kidnapping for ransom and extortion is increasing in South Africa, with lower and middle-income individuals being targeted by organised kidnapping syndicates, who have expanded their focus beyond high-profile executives.
The latest quarterly stats from the South African Police Service (SAPS) show that kidnappings increased by 10.2% year-on-year from 3,306 cases in Q1 2022 to 3,641 in Q1 2023. However, this number could be doubled, as many kidnapping incidents are not reported to the SAPS when families of kidnapped victims are told not to do so. The crime is typically associated with syndicates or gangs, and the victims have usually been highly profiled high net worth individuals or business people, or within communities and foreign national demographics. However, stats suggest anyone in the country could be a victim.
Kidnapping for ransom and extortion has become so prevalent that it has given rise to a whole new arm of insurance products, and what makes the TRUM AFRICA Ltd (TRUM) insurance proposal unique, is that they can quote on a combined/ split policy basis on all Kidnap and Ransom (K&R) policies. (I.e., Businesses can take cover for themselves, as well as their families, on a single split policy. Establishments in the tourism and hospitality sector, can opt to cover the “Insured” as well as the guests/ travelers/ internationals in their custody and control – on an unnamed basis.
Businesses and private individuals from all sectors/ spheres are showing an interest in taking Kidnap and Ransom insurance protection. Covers can extend to include the following:-
Insured Events
?Extensions to cover
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Many local market insurers have shown reluctance to insure high net worth private individuals, support short period policies or unnamed policies or issue policies on a split policy basis (I.e., including the business and their families on a single policy). TRUM however has two Lloyds Coverholders (one in South Africa, meeting the needs of South African policy holders and another in Mauritius, facilitating the needs of the rest of the African Continent).
Due to TRUM's extensive relationship with Lloyd's of London, which has been built over more than 20 years, they have been able to create a bespoke Africa solution to meet the needs of an ever-changing African landscape and to provide policyholders with credible security and assurance in their time of need via a dedicated and expert team with a proven track record that is able to provide the following on a global scale:
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