Kidnap Insurance is a type of coverage provided under the Comprehensive Kidnap & Ransom Crisis Policy. This insurance indemnifies the insured for losses directly caused by specific insured events, including Kidnap. The policy covers various expenses and losses such as:
- Ransom: The amount surrendered to secure the release of the kidnapped person.
- Ransom in Transit: Loss of ransom while being conveyed to the person who demanded it.
- Crisis Consultants’ Fees and Expenses: Fees and expenses of the crisis management consultants.
- Additional Expenses: Includes independent professionals' fees, travel costs, medical and recovery expenses, remuneration, security and resolution costs, and other reasonable fees incurred as a direct result of the insured event.
- Legal Liability: Amounts for which the insured has legal liability and reasonable defence costs.
- Personal Accident: Injuries sustained by an insured person as a result of a personal accident during the insured event.
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