Mar 26, 2018, 9:12 PM
(from Insurance Journal) In response to the rise in violent attacks at schools and other public places, a growing number of insurers have launched "active shooter" and "active assailant" policies — and more schools and school districts are purchasing coverage. General liability insurance policies often fall short on coverage for the bills that follow a violent campus incident. These costs can include victim lawsuits, building repairs, legal fees, medical expenses and trauma counseling, as well as media consultants, accountants to handle charitable contributions, and even reconstruction of buildings where violence occurred.
Examples include insurance broker Jardine Lloyd Thompson Group's recent foray into selling coverage to help terror and mass shooting victims, including at schools, and a Munich Re unit move in June to offer schools $100,000 in additional coverage for reimbursement of violent event expenses. Premiums can range from $1,400 per year for $1 million in coverage for a small private school to $50,000-$100,000 for a $5 million to $10 million policy for a large public school district, industry executives said.
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