Kidnap & Ransom Insurance (K&R)

Kidnap & Ransom Insurance (K&R) A coverage for ransom or extortion costs and related expenses. K&R insurance policies typically cover the perils of kidnap, extortion, wrongful detention, and hijacking. K&R policies are indemnity policies they reimburse a loss incurred by the insured. Typically, the insured must first pay the ransom, thus incurring the loss, and then seek reimbursement under the policy. Covered Expenses; -Ransom/extortion Consulting -Judgements, settlements and defense costs -Death and dismemberment -Personal financial loss, medical, rest and rehabilitation and travel Additional Extensions: -Active shooter and workplace -violence (assault) -Threat -Disappearance -Child abduction -Evacuation and repatriation -Express kidnapping -Stalking The question is who Needs K&R Insurance; -High-net-worth individuals. -Executives and employees of multinational corporations. -Individuals and organizations working in high-risk countries Benefits of K&R Insurance The cost of K&R insurance varies depending on a number of factors, including the individual's or organization's risk profile, the coverage limits, and the deductible. However, K&R insurance is typically more expensive than other types of insurance, such as property and casualty insurance. The cost of K&R insurance varies depending on a number of factors, including the individual's or organization's risk profile, the coverage limits, and the deductible. However, K&R insurance is typically more expensive than other types of insurance, such as property and casualty insurance. Protecting your organization and your people conducting business globally is more critical than ever. If your organization prepared to meet its Duty of Care obligations then the right solution is Kidnap/Ransom Insurance policy. #benewinsurance #insurtech #inclusiveinsurance #insurance #reinsurance #takaful