For businesses that require employees to travel abroad, ensuring that your workers are protected should be of the utmost importance. While rare, there are certain instances in which an employee has to travel to a country considered more dangerous, which can put them at risk for situations such as kidnapping or being held for ransom.
Kidnapping and ransom travel insurance can protect your employees and your business in a vary scary situation abroad.
What Is Kidnapping & Random Insurance?
Kidnapping & Ransom insurance, sometimes known as K&R insurance, is designed for business employees traveling abroad to high-risk, kidnap-prone regions of the world. Executives and high-profile employees are common targets among kidnappers, who may request large sums of money in exchange for their victim's safety.
Kidnapping & Ransom insurance protects businesses against the financial losses that could occur from extortion and ransom demands in the case that an employee is kidnapped abroad.
What Does Kidnapping & Ransom Insurance Cover?
Kidnappings and hijackings can come with substantial ransom requests in addition to the costs of hiring investigators, negotiators, attorneys, and other services. K&R insurance covers these expenses as well as the ransom reimbursement, so corporations aren't forced to potentially lose millions of dollars to have their employees returned safely.
Benefits include ransom reimbursement, loss of ransom during delivery, private negotiator expenses, travel expenses, psychiatric expenses and more.
Who Needs Kidnapping & Ransom Insurance?
Kidnapping and ransom insurance can be helpful for the following individuals:
- People traveling to kidnap-prone regions of the world
- High-profile executives, employees, and families
Why Do You Need Kidnapping & Ransom Insurance?
Kidnap insurance policies are available with benefits to protect corporate or personal assets. In the event of a kidnapping, the policy owner must front the ransom amount to the kidnapper and submit a claim for reimbursement later.
Corporations should not overlook their employees' risk of a potential kidnapping when traveling to dangerous areas. Kidnapping & Ransom insurance could save them financial loss and be integral to their employee's well-being.
Kidnapping and ransom insurance benefits include:
- Provides reimbursement for high ransoms
- Negotiates with kidnappers
- Determines how to set up a meeting and how to deliver the ransom
- Covers expenses related to kidnapping, extortion, detention, and hijacking
How Do You Buy Kidnapping & Ransom Insurance?
In order to buy Kidnapping & Ransom insurance, please select the option below. Fill out the detail on the form and once complete, send it to us via email, fax or mail it our mailing address.
- For Personal or Family: Download Personal Application
- For Business or Corporate: Download Corporate Application
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If you need more information or help selecting a Kidnapping & Ransom travel insurance plan, contact our Customer Success Team.
