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Kidnap, ransom & extortion coverage

What To Know About Kidnap, Ransom and Extortion Insurance

Kidnap, Ransom and Extortion Insurance (K&R) provides peace of mind for many global travelers. A number of kidnappings result in demands for ransom, so K&R insurance covers expenses for corporate and organization employees, as well as individuals who become targets of extortion. Given the specific nature of these crimes, there are exclusions that apply. It’s important to check the coverage of a K&R insurance policy to see who it covers and the associated benefits.

Extortion and World Travel

With globalization, world travel has become a necessity for many people. Kidnap, ransom & extortion coverage is becoming increasingly important for these travelers:

  • Wealthy businesspeople and their families
  • Corporate professionals
  • International aid program workers
  • Celebrities
  • Journalists
  • Nongovernmental organization (NGO) employees
  • University employees and students

The U.S. State Department provides a list of countries where persons should not travel. People who travel to these countries might not be covered under K&R, due to the risk advisory warnings.

Good Reasons To Select Coverage

Corporations, organizations and individuals carrying K&R are covered for monetary losses and other damages related to kidnappings and extortion. Expenses can involve ransom reimbursements, treatment for injuries (bodily and cosmetic), rewards for information, payment of travel costs and funeral arrangements. Coverage also provides for experts to assist with negotiations for victim release and recovery.

Not everyone traveling abroad needs to have kidnap, ransom and extortion coverage. However, with increasing risk to employees and individual travelers, K&R insurance can be a lifesaver with real-time security protection in dangerous situations.