Extortion Rider

The Extortion Rider provides protection in the event that an extortionist threatens a financial institution’s employees or property. The person receiving the threat must make a reasonable effort to report the extortionist’s demands to an associate, the FBI, and the local law enforcement authorities.

Sample Rider
Coverage Summaries of Bond Riders

Claims Example
  • An extortionist arrives at a bank president’s home and holds the president, his family, and a visiting neighbor captive. The extortionist places a demand to the executive vice president for $1,000,000 for the release of the captives without harm. The executive vice president notifies the chairman of the board, the FBI, and the local police department. The demand amount is covered under the Extortion Rider, up to the limit of liability.

Features
  • Coverage is extended for the loss of property surrendered as a result of threats to cause bodily harm or hold captive one or more of the following individuals: directors, trustees, employees, or partners of the financial institution or relatives or guests of one of the foregoing.
  • Also covered: property surrendered as a result of a threat to do damage to property.
  • Coverage is provided on a worldwide basis.
 

Notwithstanding any language to the contrary, nothing contained herein constitutes nor is intended to constitute an offer, inducement, promise, or contract of any kind. All coverage descriptions and claims examples are provided for informational and educational purposes only and are not a representation as to coverage for any particular claim and are not represented to be error free. Coverage for any claim is determined upon the specific facts of the claim, the terms and conditions of the policy and applicable law. For details on the coverage provided by your specific contract of insurance, please refer to your policy. Coverage is subject to underwriting guidelines and may not be available in all states. Limits may be capped for underwriting reasons. Any links to any sites which are not originated by ABA Insurance Services Inc. (ABAIS) are provided only as a courtesy and are not intended to nor do they constitute an endorsement by ABAIS of the linked materials.