Over the last few decades there has been a rash of well-publicized incidents involving the kidnapping of corporate executives. Those kidnapped are used as pawns to extort huge sums from their employers, kidnapping victims are often terrorized, sometimes injured, and occasionally killed.
Kidnap & Ransom, K&R insurance coverage is actually quite broad, covering the multitude of costs associated with such an event like extortion payments, extra security and guard services, medical and counseling costs and business interruption losses, and providing specialized resources needed to manage a positive outcome like skilled negotiators and investigators.
More information and facts to help understand the need for Kidnap Ransom coverage:
If you have questions about any of these exposures, or are interested in indications of cost, please don’t hesitate to contact us.