News from our Global Insurance Portal: Your CEO Has Been Kidnapped for a Ransom of $50 Million. Where Will the Money Come From?

Your CEO Has Been Kidnapped for a Ransom
of $50 Million. Where Will the Money Come From?

The kidnapping of corporate executives and billionaires is a big business. Huge criminal syndicates are among the chief culprits, and they commit their crimes on a worldwide basis. Here is but the most recent news to come out of Africa:

“Africa’s youngest billionaire was kidnapped Thursday while heading into a luxury hotel for his morning workout, according to reports. Mohammed “Mo” Dewji was abducted outside the oceanfront Colosseum Hotel and Fitness Club in Dar es Salaam, Tanzania, BBC News reported.”

“Dewji, 43, has a net worth of $1.5 billion and is Tanzania’s only billionaire, according to Forbes. He is the CEO of METL, a conglomerate founded by his father in the 1970s focused on textile manufacturing, flour mills, drinks and edible oils.”

https://nypost.com/2018/10/11/africas-youngest-billionaire-kidnapped-outside-luxury-hotel/

“The abduction of Tanzania’s top billionaire, Mohammed Dewji may have been the first incident to have happened in the East African nation but similar occurrences have also happened in South Africa, Nigeria, and Mozambique this year, data show.”

“The Sunday Times of South Africa reported in April this year (2018) that in three years, over 40 businessman had been kidnapped in South Africa… with sophisticated syndicates demanding ransoms for their safe return.”

http://www.thecitizen.co.tz/News/Mo-Dewji-becomes-Africa-s-sixth-billionaire-to/1840340-4800984-14gwum/index.html

What a horror. Try to imagine the tremendous suffering of these people and their families. You can also appreciate the severe impact on their business enterprises. And don’t forget the huge cost involved in ransoming the victim, and providing subsequent care: the fee of a negotiator; specialized equipment; additional security protection; the ransom itself; psychiatric treatment and rehabilitation…

The tremendous expense involved in rescuing a kidnap victim does not have to burden the family or the corporation. Kidnap and ransom policies are available from specialty carriers through our Global Insurance Portal. These coverages make it easier to redeem the captive, and reduce the emotional – and financial – burden on all.

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Our friend and colleague George Bailey runs a radio show that is committed to financial education for children. This is a truly noble mission because nothing is more important than giving the next generation the proper values and mindset for financial success.

George was kind enough to interview me recently. We talked about my own childhood and career, and the message I would like to send to upcoming consumers of financial products. He conducted a very professional interview, and we both enjoyed it immensely. I think you will too. Here’s the link:

https://www.facebook.com/choosethenickel/videos/vb.418479555280491/490303748098071/?type=2&theater

 

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