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Crain’s Chicago Business’ Daily Gist explores the uptick in inquiries for insurance against workplace violence. Crain’s Chicago Business law and manufacturing reporter Claire Bushey says those selling active shooter insurance do not have enough data to accurately price the coverage, but there has been an increase in demand for the coverage. Insurance underwriters, particularly those in the U.K. market, like Lloyd’s of London and Beazley, have marketed the product to businesses over the last five years. But she says that U.S. brokers like Arthur Gallagher and Aon have begun offering the coverage to clients. Gallagher, for example, recently unveiled a policy it designed and lumps together different kinds of catastrophic harm under one policy. This includes kidnapping, vicious attack (such as active shooting), terrorism and hijacking. Premiums vary widely, ranging from $1,000 in annual premiums to $20,000 in annual premiums. Businesses need to consider the likelihood of such events and the cost of these policies, because oftentimes the policies do not pay out because a covered event does not occur. However, if a company is a victim of one of these catastrophic harm events, they will want a policy with high limits. These policies cover funerals, business interruption, public relations and more. Businesses should review these policies closely to determine what will be covered.

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