With some ransom demands reaching R150 million, insurance companies are now offering protection against abductions.
It is shocking to hear that every day in South Africa, there are an average of 46 kidnappings, or more than 17 000 a year.
Our kidnapping rate – of 10 per 100 000 people – is one of the highest in the world.
While most relate to domestic disputes or robberies and hijackings – and seem to be spur-of-the-moment crimes – a worrying 10 people per day are kidnapped and held for ransom.
And now, in good-old-fashioned South African entrepreneurship, insurance companies are offering insurance against kidnapping or to cope with the financial and other effects of being abducted.
Ryno de Kock, an insurance expert at PSG, said kidnappers usually target individuals for financial gain.
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Children, wealthy individuals, executives and tourists were particularly at risk. Businesses can also be targeted as part of extortion or intimidation tactics.
He said kidnappers often target children of business leaders or high-net-worth individuals.
The smaller ransoms are usually not more than R500 000, which family and friends can raise to secure release of victims.
The highest in SA reached between R72 million and R150 million, primarily in cities like Joburg, Cape Town, Durban and Polokwane.
So, insurance against kidnapping is yet another cost of surviving in this lawless country of ours.
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