As we reflect on the first anniversary of the Mandalay Bay shooting, it is sobering to consider the real risks facing any large group of people. A gathering of hundreds or thousands of people is vulnerable to attacks of violence and, unfortunately, over the past several years, we have seen that schools are also such targets.
Your insurer is your partner in the risk business. The more insurers understand how security products can impact risk mitigation, the more effectively they will be able to price premiums. Your company’s insurance rates are commensurate with your risk exposure,” says Neil Lakomiak, Business Development Director, Building and Life Safety Technologies for UL LLC.
The U.S. Senate voted Thursday to extend a federal terrorism program for six years. Lawmakers failed to extend the program before it expired last year, and it was quickly reauthorized in a 93 to 4 vote.
A new report by Marsh confirms that demand for terrorism insurance remains strong and the existence of the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) plays a key role in making coverage available and affordable.
If your organization is operating in an area where the risk of kidnap is deemed high, you should consider the Special Risk options available through the insurance market. Carried by many leading underwriters, Kidnap/Ransom and Extortion (KRE) coverage reimburses the losses associated with a kidnap.