Macau casinos take out kidnap insurance to protect patronsSeptember 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.
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