It’s not every day your boss, employee, or student gets kidnapped and held for ransom, but it does happen to many businesses who weren’t expecting it. Whether you run a large corporation or a small business, the risk of kidnap, ransom, or extortion is present and something that you should protect yourself and your employees from. With an executive protection portfolio kidnap/ransom insurance policy you can do just that. While you may feel like it will never happen to you, realize that everyone it has happened to probably felt the same way in the beginning.
Any company that has an owner, manager, students, and/or any employees at all, needs an executive protection portfolio kidnap/ransom policy. If you do end up having to deal with a kidnap, ransom, or extortion situation, the costs could really add up, and the situation could really get dangerous. With the proper policy in place, you can receive compensation for the following:
- Ransom payments.
- A reward to find the missing person.
- Lost wages due to the search for the victim.
- Travel and lodging associated with the search.
- Legal fees.
- Medical bills associated with injuries the victim may sustain, including both physical and psychological.
As you can see, there is a lot to consider when you think about an executive protection portfolio kidnap/ransom insurance policy. While it does not mean that you plan on having an employee get kidnapped, it does ensure that you care about those you work with and want the very best protection for the company all together.