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Definition of 'Kidnap Insurance'
A type of insurance designed to protect individuals from the risk of kidnapping. Kidnap insurance often covers other events related to kidnapping, including extortion. In the case of a kidnapping, the policy holder is compensated for money paid as ransom, medical expenses, counseling or for accidental death of the kidnap victim.
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Investopedia explains 'Kidnap Insurance'
Kidnap insurance is more likely to be used for individuals or companies operating in high-risk areas. These areas tend to have higher rates of crime and a history of kidnapping workers employed by multinational firms. Some of the common high-risk areas include Nigeria, Haiti and Venezuela.
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Search results for 'Kidnap Insurance'
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http://financialedge.investopedia.com/financial-edge/0210/5-Bizarre-Insurance-Policies.aspx
... kidnappers and extortionists. Fortunately, many insurance companies offer Kidnap
and Ransom insurance (also known as K&R). Not only are ...
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http://financialedge.investopedia.com/financial-edge/0911/Lesser-Known-Insurance-Policies.aspx
... do find out then the policy may be declared void. So you may have kidnap,
ransom and extortion insurance, and not have any idea. ...
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