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Kenney Ratio
Proposal by Roger Kenney, an insurance journalist, that in order to maintain the solvency of a property and casualty insurance company, insurance premiums written should not exceed more than twice the company's surplus and capital. This historical measure is used by regulators to determine the company's claim paying capacity while maintaining its solvency.

The term, used In energy risks, refers to entry of water, gas, oil, or other formation fluid into the well bore. It occurs because the pressure exerted by the column of drilling fluid is not great enough to overcome the pressure exerted by the fluids in the formation drilled. If prompt action is not taken to control the kick or kill the well a blowout will occur.

Kidnap-Ransom Insurance
Insurance coverage providing for payment within the limit specified in the policy of ransom demanded by kidnappers of the insured.

Key Person Health Insurance
An individual or group insurance policy designed to protect a firm against the loss of income resulting from disability of a key employee. A policy like this which is marketed abroad is yet to be introduced in India.

The term, used in energy risks, refers to the following:
1. In drilling, to prevent a threatened blowout by taking suitable preventive measures (e.g. to shut in the well with the blowout preventers, circulate the kick out, and increase the weight of the drilling mud)
2. In production, to stop a well from producing oil and gas so that reconditioning of the well can proceed.

Kindred Perils
Perils of the same kind. Ex.Burglary &Robbery- Storm & Hurricane.

Knock-For-Knock Agreement
In relation to Motor Insurance, agreement between two or more insurers to the effect that in the event of collision between two motor vehicles insured with two of them separately, each insurer will bear the loss with regard to the vehicle insured with them without going into the cause of which vehicle has caused the collision. There is however no effective implementation of this agreement by the insurers because of various reasons.

A ship's unit of speed - a nautical mile (i.e. generally 6080 feet - 1.151 statue miles or 1853 metres) per hour.

Known Loss
A loss about which the insured and/or the insurer is aware at the time when insurance is effected

Kutcha Construction
Building having walls and/or roof of wooden planks, thatched leaves, grass, hay, bamboo, plastic cloth, asphalt cloth, canvas, tarpaulin and the like. Such constructions attract an additional rate of premium under the standard fire and special perils policy as per All India Fire Tariff. (See "All India Fire Tariff")
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