The Good: This employer-sponsored plan protects employees who are traveling overseas (particularly in Latin America, Asia, Eastern Europe, and Africa) against financial loss due to kidnapping, extortion, or ransom demands while also providing leading crisis management support services.
The Drawbacks: This is a highly focused plan that appeals to a limited number of employers. It provides no travel-related protections to the traveling employee.
The Bottom Line: This is an employer-sponsored extortion-only plan that is useful for high-profile organizations, those whose employees regularly handle large amounts of cash, or those whose employees work with sensitive information or technologies. Itâ€™s high-end protection for companies who need to prepare for threats against corporate assets, including their employees.
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This plan is unique in that it provides the following:
- In the plan maximum are funds for death and dismemberment, ransom or extortion payments, recall costs, business interruption costs, consultant costs, and much more.
The following are the limitations on this planâ€™s coverage:
- No travel protections for the employeeâ€™s travel risks, this is a plan intended to protect the employer from risk.