CFC has been providing insurance for terrorism and sabotage events to the North American market over a decade and was one of the first to provide a standalone terrorism policy in the US.
Its active assailant policy covers businesses in the event of any premeditated physical attack that has the intention of killing or causing bodily harm, and isn’t restricted to political, religious or ideological events. Nor does it restrict what can be considered a ‘weapon’ for use in an assailant attack.
Going above and beyond providing cover for the insured’s legal liabilities, property damage and business interruption, CFC’s policy is specifically designed to provide cover for victims, customers and employees. This includes victim and organization support costs such as compensation for those injured and medical or psychiatric treatment, and crisis management costs.
“Sadly, active assailant events are becoming a familiar occurrence in cities across the United States, from disgruntled employees to lone wolf attacks on schools, churches and businesses,” said Ben Atkins, Terrorism Team Leader at CFC. “According to nonprofit Gun Violence Archive, there were more mass shootings across the US in 2019 than there were days in the year[1]. They recorded 417 events in which four or more people were shot.”
“The unpredictability of these events only adds to the severity of their impact on the victims. We believe that insurance has an important role to play in mitigating the fall-out of these terrible events on the people and businesses affected. Immediate support is what they need and that’s what our active assailant cover provides.”
CFC’s terrorism underwriting team has tripled in size over the past decade and with a $200M line, now writes this class in over 20 countries worldwide providing small and mid-size organizations a flexible and comprehensive alternative to government-backed cover.
“A business doesn’t need to be targeted directly to be impacted by the growing number of these events. They could be denied access to their premises for days while law enforcement officers investigate an incident. They could suffer a major drop-off in customers if people avoid the area after an event. Worse still, they could lose staff caught up in an event,” Atkins concludes. “Insurance policies like ours can help them survive not just financially, but also by offering a hand for impacted businesses to hold.”
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