Many citizens in countries around the world believe all American’s are wealthy. Perhaps that is why, according to researchers, almost 20,000 kidnappings occur each year. The U.S. State Department even adds a kidnapping advisory to the government’s annual travel list to prevent American citizens from visiting areas that are known to kidnap and ransom citizens. Before you travel abroad, consider purchasing kidnap and ransom insurance.
Who Can Get the Insurance?
To help prevent the possible devastation of being kidnapped in a foreign company, many corporations offer an insurance protection package to their employees. Known as K&R insurance, the coverage is also available to anyone traveling abroad, such as politicians, musicians, and sports celebrities. Packages for kidnap and ransom insurance can cover
How Does the Insurance Work?
Most kidnappings and ransoms are secretive affairs hidden from the public, family members, and the insurance company. If the abductor allows the individual to contact the insurance company, specialists will be deployed to arrange for the safe release of the captive once the family or company pays the money. The amount will then be reimbursed once the event is concluded – up to the specified limit amount.
When Do You Need Insurance?
Anyone that travels extensively should be covered by kidnap and ransom insurance coverage. You may never be kidnapped; however, the best protection is to be proactive and purchase insurance.