Kidnap Insurance: Does Your Business Need It?

kidnap insurance pa

Kidnap insurance in PA may not be at the top of your business priorities, but it is necessary for the safety of your employees. If you send employees on business trips overseas, there is a heightened risk of political tensions that create dangerous situations for Americans.

What Is Covered

If an employee is taken hostage while conducting business in a tumultuous region, you need insurance to cover the expenses that typically accumulate. Expenses covered by kidnap insurance in PA include the following:

  • Legal advice
  • Travel expenses in the event someone must go to the area to manage the situation
  • Lost income
  • Expenses related to training temporary employees
  • Public relations expenses related to managing company image
  • Ransom/reward money for those with information
  • Medical and/or psychological bills for the victim
  • Lawsuits by the victim against the company
  • Funeral costs

What Kidnap Insurance Does Not Cover

Kidnap insurance in PA will not provide coverage for a kidnap situation that occurs in a country against which the United States has sanctions. Your business should consult with experts prior to sending an employee overseas to find out if travel is allowed and learn how to be safe while there.

While a hostage and kidnap situation is the worst-case scenario when your business sends an employee overseas, it must be considered and protected against. Research the best options for your company when it comes to kidnap insurance.

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