Macau casinos take out kidnap insurance to protect patrons

September 1 2015 by InsuranceAsia News Staff

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.