Insurance Glossary

KEY PERSON INSURANCE

Insurance coverage on the life or health of a key individual whose skills, leadership, or expertise are critical to a business. The policy helps offset financial losses resulting from the death or disability of that individual.

KIDNAP AND RANSOM INSURANCE

Insurance coverage that reimburses ransom or extortion payments and related expenses, typically purchased by multinational organizations to protect employees. Policies often include high deductibles, geographic exclusions, and confidentiality requirements.