Kidnap and ransom insurance K&R

{
  "id": "MLC-T-INS-001948",
  "term": "Kidnap and ransom insurance K&R",
  "field": "Insurance and risk management",
  "definition": "A specialized insurance policy designed to protect individuals and corporations operating in high-risk areas from the financial consequences of kidnapping, extortion, wrongful detention, and hijacking. Kidnap and Ransom (K&R) coverage reimburses the policyholder for ransom payments and other associated costs, such as negotiator fees, legal advice, and medical care. Insurers providing this coverage also give access to crisis management and security consulting firms to manage the incident.",
  "url": "https://mlchart.com/terminology/insurance/kidnap-and-ransom-insurance-k-and-r/"
}