Glossary
Key employee
A key employee is someone in a business who is considered indispensable, such as a shareholder, partner, director, proprietor or key salesperson.
Key person insurance
This covers the business if someone who is a vital member of the company becomes unable to work due to injury or sickness and pays out a lump sum to the business.
Kidnap and ransom insurance
This is a specialist insurance cover for employees who are working in high risk countries, to help support them and their families if they were to be kidnapped for a ransom.