Active Shooter / Active Assailant Insurance
By: Frank Scott, A.C.I.I., C.P.C.U.
Many recent events have made us realize there is a need for most industries to think about carrying coverage for “Active Shooter/Active Assailant Insurance” which can be defined as coverage for a premeditated, malicious physical attack by an active assailant at a covered location, who is present and armed with a weapon (including handheld instruments, small arms, explosives and vehicles).
Some of the difficulty in convincing clients that this is a necessary coverage is due to the misconception that there will be coverage under their general liability insurance policy, but this becomes a gray area since there is no coverage for damage to the insured’s property/loss of income due to an occurrence, plus the general liability policy requires a proof of negligence on the insured’s part in order to respond to third party losses/claims.
Carriers have responded by providing coverage for such an event by offering a policy which can include critical incident response services, to prepare for these ever-changing threats, as well as providing quick assistance should an incident occur.
Active Shooter / Active Assailant products aim to more comprehensively address an insured’s needs by providing the following coverages:
Legal Liability
Coverage for the damage and claims expenses an insured will become legally obligated to pay following an incident.
Physical Damage
Coverage for the cost of physical loss, damage or destruction to insured property resulting from an active assailant incident.
Business Interruption
Indemnification for business interruption resulting from physical damage or denial of access following an incident.
Extra Expense
Cover for a range of extra expenses and cost likely to be incurred by the insured.
Response/Preparedness
Fees The cost of critical incident response from a security consultant both prior to and after an incident.
There are also markets available which can offer coverage for Loss of Attraction and Threat Coverage.
If you are interested in obtaining more information or a quote, please do not hesitate to contact your broker at Socius Insurance Services.