LBCI

Insurance Companies profit from the kidnapping wave

News Bulletin Reports

28-09-2012 | 13:58

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Insurance Companies profit from the kidnapping wave

The insurance companies cannot promise to protect you from kidnapping but they can pay the ransom that the abductors might ask for in order to release you.

In this context, President of the Association of Insurance Companies Asaad Mirza told LBCI that there are 2 types of kidnapping insurances.

The first one is the insurance against local kidnapping in which the abductors ask for a ransom, and the second one covers the kidnapping outside Lebanon.

Mirza stressed that this type of insurance is not a new concept, adding that it exists since a very long time in Lebanon and several Arab countries.

The insurance policy fees are evaluated according the person's social status and the location of his residence.

Following the latest security events in Lebanon, the life insurance policies number has increased by 9%.

For the full LBCI report, please click on the video above

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