Definition: The term "key personnel insurance" refers to a type of insurance that specifically covers employees or key personnel who are involved in critical or high-risk activities, such as manufacturing, energy production, or risk management. This type of insurance typically insures against financial loss due to accidents, illnesses, or natural disasters that might affect the health and well-being of the key personnel. The definition of "key personnel" includes employees like executives, managers, technicians, supervisors, and other key figures who are responsible for supervising and managing the activities of the company. This group is at risk for injury or illness when their work environment or operations are affected by accidents, illnesses, or natural disasters. Key personnel insurance typically covers a range of costs associated with medical expenses, lost wages, and legal claims related to accidents or injuries sustained by key personnel due to their roles in critical activities. It may also include provisions that cover the cost of funeral expenses if an employee is killed in an accident or disease. In summary, "key personnel insurance" refers to a type of insurance that specifically covers employees involved in critical or high-risk activities at the company, including executives, managers, and other key personnel. This type of insurance often includes medical costs associated with accidents, illnesses, or natural disasters, as well as provisions for funeral expenses if an employee is killed while in their roles.

key personnel insurance