'Preventative' mass shooting insurance product launched

‘Preventative’ mass shooting insurance product launched | Insurance Business America

Insurance News

‘Preventative’ mass shooting insurance product launched

Offering features AI technology as part of notification system

Insurance News

By
Terry Gangcuangco

A new active assailant insurance product has been rolled out through the collaboration between technology company Gabriel, (re)insurance group Chaucer, and crisis management expert Merrill Herzog.

Aimed at preventing and reducing the impact of mass shooting incidents, the insurance solution leverages AI (artificial intelligence) technology to promptly alert policyholders – the likes of schools, hospitals, and religious venues – during an attack and ensures the immediate notification of emergency services and adjacent properties while setting up a command center with a video link for real-time crisis management.

The product, which features an incident security dashboard built and installed by Gabriel, provides comprehensive coverage spanning property damage, business interruption, and liability in the wake of an active assailant event at or near the policyholder’s premises. It extends to cover business disruptions due to active assailant threats and the decline in business following such incidents.

“Chaucer has partnered with Gabriel and Merrill Herzog, two companies at the forefront of saving lives and crisis response in the event of an active assailant incident,” noted Chaucer class underwriter Liz Heslip. “We believe through these partnerships we have the most technologically advanced and unique active assailant product in the market.”

“I believe this is a first step towards setting a new standard for active assailant, deadly weapons, and workplace violence cover. From now on, they will actually prevent threats, not just pay for their deadly impact.”

Merrill Herzog CEO Paul Hatcher pointed to the combination of technology and practical solutions to prepare for and help prevent mass shooting incidents. “We are delighted to work with Chaucer to bring this powerful solution to their insurance clients,” he said.

What do you think about this story? Share your thoughts in the comments below.