Torian Insurance offers a variety of kidnap and ransom insurance policies to ease the financial burden in the unexpected event of a kidnapping, extortion, ransom or illegal detention.
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Being kidnapped is a scary thought, but it’s not out of the realm of possibilities. In the chance you are kidnapped, ransom can be millions of dollars. Kidnap and ransom insurance for individuals, sometimes referred to as K&R insurance, provides protection against the financial losses that may result from a kidnapping or ransom demand. You might need kidnap and ransom insurance if:
While no one likes to think about the possibility of being the victim of a kidnapping, it’s important to be prepared in case it does happen.
You can rest easy with Torian. As independent Insurance agents, we work for YOU, not the insurance companies! Our expert staff has your best interest at heart which means providing the best coverage.
Kidnap and ransom insurance is a type of insurance that provides coverage in the event that an individual is kidnapped and a ransom is demanded for their return. The insurance can provide financial coverage for the ransom itself, as well as any expenses incurred in the course of negotiating with the kidnappers.
Kidnap and ransom insurance is typically purchased by individuals who have a high net worth, own valuable items or travel abroad frequently. Individuals who work in high-risk occupations, such as journalists, aid workers, or business executives should also consider K&R insurance. It is also frequently purchased by individuals who are celebrities, famous musicians, well known public figures or professional athletes. K&R insurance can also be purchased by businesses, non-profits, and other institutions.
Kidnap and ransom insurance typically covers the ransom payment, as well as expenses related to the kidnapping, such as the cost of hiring a negotiator, extortion, and legal costs. It is important to remember, however, that insurance will not protect against all risks associated with kidnap and ransom situations. Individuals and businesses should consult with their insurance agent or broker to determine if this type of coverage is right for them.
If you are kidnapped, you or your family will need to contact your insurance company immediately. The company will then work with professionals to determine how to best proceed with the kidnapping and secure the individual’s release. In most cases, the insurer will reimburse you for the ransom paid and other expenses.
The cost of kidnap and ransom insurance varies depending on the individual’s risk factors. Factors that affect the cost include the individual’s occupation, travel schedule, and whether they have any personal security measures in place.