Workplace Violence and Insurance- Introduction

Workplace Violence and Insurance 

workplace violence introductionThe news over the past several weeks has unfortunately featured too many stories about mass shootings, particularly at workplaces.  Disgruntled employees or unhinged customers enter a workplace and start shooting.  In most cases several lives are lost, others are physically injured and still more will face emotional scarring and trauma following the event. 

It’s a sad but true story in America today. 

“Being in the insurance business my mind of course jumps to questions of how do you manage this risk?”

“What are the costs of a workplace violence event?”

Who pays for those costs?”

“Does insurance remediate the injuries?”

“Are the damage to revenues, reputation, and other costs associated with an event like we witness almost every day insured?”

The answer to many of those questions is no.  Most standard insurance policies or programs do not respond to the direct or consequential costs following a workplace violence episode.  But there is an insurance product specifically designed to respond – believe it or not – and it’s aptly named Workplace Violence Insurance. 

Over the next few video posts, I’m going to breakdown and answer the following questions: 

  1. What are the costs associated with a violent event at a workplace? 
  2. What is workplace violence insurance? 
  3. How to you manage workplace violence risk in your workplace? 

Stay tuned. 

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