Gun violence is at an all-time high right now in the U.S., and sadly, companies in every industry must be on high alert. In fact, there were more than 61,600 gun incidents in 2017 – almost a 5 percent increase from the previous year, according to Gun Violence Archive. And 346 of those were categorized as mass shootings, many of them in places of business.
What’s perhaps most surprising to business owners is that business or property damages caused by an active shooter may not be covered under their general liability insurance unless the insured is deemed to be “liable” for the event. Even personal attacks against a client or another third party who is on the jobsite or visiting the office may not be covered with general liability insurance. In other words, general liability insurance just isn’t cutting it anymore.
However, some insurance agencies are now offering coverage plans that specifically address crisis situations like active shooter scenarios. Here are a few things to consider when selecting an active shooter insurance policy:
Clearly defined parameters
Many general business liability policies don’t explicitly include or exclude active shooter incidents. Active shooter insurance eliminates any confusion, covering acts of potentially deadly force involving the use of a weapon on the premises. The company’s broker can help contractors understand how the policy defines a weapon, as it can differ. Also, make sure the policy doesn’t have any terrorism exclusions. There should be no confusion as to what violent events insurance will or will not cover.
Monetary coverage for post-event support
Many active shooter policies offer crisis management services that cover the cost of a crisis coach or public relations consultant, which can be crucial to manage the situation. The crisis management component may also provide coverage for victim counseling services and funeral expenses. Be sure the policy also covers the extra expenses required to recruit, hire and train new employees needed as a result of staff unable to continue working after such a catastrophic event. Active shooter coverage can greatly reduce the amount of out-of-pocket expenses the company must pay in the event of a tragic incident.
A security assessment and prevention plan
Not all policies include these services, so keep an eye out for the ones that do. The security assessment is typically performed right after the policy is purchased. It identifies any gaps in the physical security of company’s building(s) and surrounding premises and includes a plan for how to mitigate or eliminate such risks. This prevention plan often covers things like training team members how to respond in a crisis situation and testing different scenarios to find and fix flaws in the plan.
No company thinks it will find itself in an active shooter scenario, but, unfortunately, there’s no guarantee. Talk to a broker about the options available on protecting the business, workers and clients, should an incident occur.
