Kidnapping in Foreign Countries ”Among Executives of US Companies, Fear of Kidnapping Rises”

The New York Times reported on July 2 “Kidnapping is on the minds of lots of corporate executives these days. Bombings and kidnapping sand terrorists threats reported almost every day.

For most of the 10 years, Michael Schwartz, has been roaming Europe and Asia for Nova Chemicals, a Canadian plastics company, he has not worried much about kidnapping. But these days, he is not dismissing any possibility with the kidnapping threat. He says, even in the relatively calm countries of Europe and Asia, he never hails an airport tax to get to his hotel. Instead, he is met by a previously designated driver, taken to a hotel where security has been vetted and escorted to his room by a hotel employee. He travels from the hotel only in approved limousines or with business associates. He never goes out to restaurants alone. To avoid calling attention to himself, he dresses in modest suits. He leaves his Omega wristwatch home and puts on something from Swatch.

Instrument products related to the kidnapping have been focused among executives of US companies. Two bug insurers, the American International Group and the Chubb Group, say that sales have jumped sharply for insurance policies that provide negotiators to deal with kidnappers and to make ransom payments.

Some insurance companies have the ‘Kidnapping insurance’ covering more than just abductions, extending to hijacking and extortion.

In the Asian areas such as Pakistan and Philippines, the kidnapping has risen. However, experts said that the most risky countries are Columbia, Venezuela, Mexico, Argentina and Brazil.

In these countries, ‘express kidnapping’ frequently takes place seeking drunken travelers late at night. Kidnappers take them to the neighboring ATM and withdraw money of the maximum limit after robbing a credit card. Then, kidnappers withdraw money again after midnight.

Many security companies hold classes for business executives on how to elude kidnapers as a request of business executives. Except the training, these security companies suggested to change a flight schedule before going on business trip just in case of kidnapping incident.

Sung-Kyu Kim kimsk@donga.com