Wednesday, April 25, 2018

Macau casinos take out kidnap insurance to protect patrons

Alarmed by the rise in hostage taking over gambling debts, major casinos, hotels and resorts in Macau have taken out so-called specialist risk insurance, according to a report.

Quoting a top Hong Kong insurance broker, Macau’s major casinos and hotels have become interested in specialist risk insurance as they seek to mitigate the fallout from any high-profile incident.

Ashley Coles, assistant director of credit, political and security risks at JLT, was quoted as saying that the presence of many well-to-do and celebrity players on casino floors in Macau and across the Asia-Pacific region as a whole means higher risk of kidnapping incidents.

The insurance policy protects casinos and hotels from legal liability and often deploys crisis respondents to diffuse the dispute in kidnappings.

 

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