What is Kidnap and Ransom Insurance?
Kidnap and Ransom insurance is basically designed to provide coverage for the individuals and corporations operating in high risk around the world. There are plenty of kidnappings reported globally each year and some of reports are going unreported.
You all very well aware of the fact that a kidnapping is not only upsetting, but also it can lead to extreme financial losses from ransom payments and associated expenses, business disruption, proceedings, adverse publicity and reputation damage for long-term. But if you own a kidnap and ransom insurance policy, you will get the coverage for a range of crisis perils including extortion, kidnapping, stabbing (which is known as active shooter or workplace violence), and many more.
Kidnap and ransom insurance in India is worth for those if anyone considers himself/herself a worthy target for kidnappers. This insurance plan is also worth for the companies that located or operate in notorious areas and famous for kidnapping. These companies should purchase this insurance product for their employees.
This kidnap or ransom insurance not only covers the ransom payment but also provide the fees of consultants hired for crisis management, medical and travel related expenses, among others.