We hope that our extensive glossary of common (and some not-so-common)
insurance terms and phrases proves helpful to you!
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N - O - P - Q - R - S - T - U - V - W
KEY PERSON INSURANCE - Insurance
on the life or health of a key individual whose services are essential
to the continuing success of a business and whose death or disability
could cause the firm a substantial financial loss.
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KIDNAP/RANSOM INSURANCE -
Coverage up to specific limits for the cost of ransom or extortion
payments and related expenses. Often bought by international
corporations to cover employees. Most policies have large deductibles
and may exclude certain geographic areas. Some policies require
that the policyholder not reveal the coverage’s existence. |
