Kidnap Insurance

AAA

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.

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.

RELATED TERMS
  1. Adequacy Of Coverage

    The adequacy of coverage concerns how well your insurance policies ...
  2. Life Insurance

    A protection against the loss of income that would result if ...
  3. Universal Life Insurance

    A type of flexible permanent life insurance offering the low-cost ...
  4. Term Life Insurance

    A policy with a set duration limit on the coverage period. Once ...
  5. Permanent Life Insurance

    An umbrella term for life insurance plans that do not expire ...
  6. Conventional Subrogation

    The relationship between the insured and insurer as defined in ...
Related Articles
  1. Insurance

    15 Insurance Policies You Don't Need

    Learn how to save money by saying "no" to unnecessary coverage.
  2. Retirement

    Life Insurance: How To Get the Most Out Of Your Policy

    There are many benefits to owning a life insurance policy - if you get the right one for you.
  3. Options & Futures

    Getting Started On Your Estate Plan

    With some preparation, you can save your heirs from paying a hefty estate tax. Here are some tips.
  4. Home & Auto

    Life Insurance Clauses Determine Your Coverage

    Understanding these key parts of your policy will help you to ensure that your family will be covered.
  5. Insurance

    Life Insurance: Putting A Price On Peace Of Mind

    Would your death leave loved ones financially stranded? Find out how to ease your mind and keep them protected.
  6. Economics

    What Is Happening To The BRIC Economies?

    Ten years ago, it was about the BRIC countries –Brazil, Russia, India, and China, and it was thought that capitalizing their resources would elevate them.
  7. Economics

    The Economic and Social Effects of Corruption

    Corruption results in inefficiencies in the operations of emerging economies, and prevents such economies from reaching the maximum level of development.
  8. Economics

    Sanctions & Falling Oil Prices Hit Ruble Hard

    Russia, through its aggressive actions, has brought upon itself sanctions which, coupled with falling oil prices, have adversely impacted its economy.
  9. Professionals

    How Mukesh Ambani Has Expanded Reliance Industry

    Mukesh Ambani has expanded Reliance Industries and increased its revenues, but his public image, and that of his company, have not fared as well.
  10. Options & Futures

    What percentage of the global economy is comprised of the forest products sector?

    Find out what percentage of the global economy is comprised of the forest products sector, and learn why coming up with an accurate estimate may be difficult.

You May Also Like

Hot Definitions
  1. Commercial Paper

    An unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable, inventories ...
  2. Federal Funds Rate

    The interest rate at which a depository institution lends funds maintained at the Federal Reserve to another depository institution ...
  3. Fixed Asset

    A long-term tangible piece of property that a firm owns and uses in the production of its income and is not expected to be ...
  4. Break-Even Analysis

    An analysis to determine the point at which revenue received equals the costs associated with receiving the revenue. Break-even ...
  5. Key Performance Indicators - KPI

    A set of quantifiable measures that a company or industry uses to gauge or compare performance in terms of meeting their ...
  6. Bank Guarantee

    A guarantee from a lending institution ensuring that the liabilities of a debtor will be met. In other words, if the debtor ...
Trading Center