Nearly two million American workers are victims of workplace violence each year, according to OSHA, putting it as the second leading cause of worksite deaths in the U.S. With that in mind, XL Catlin has entered into an exclusive underwriting agreement with The McGowan Companies to provide workplace violence insurance to U.S. businesses.
“Continued workplace violence incidents have prompted many businesses to ask – what if it happens to us? And if it does, will we be prepared to handle it?” said Denise Balan, Senior Vice President and head of US Kidnap & Ransom insurance business. “Workplace violence can result in employee injury, business interruption, and reputational damage. Our Act of Workplace Violence and Stalking Threat Insurance combines comprehensive expense reimbursement with access to crisis
management consultants, all aimed at assisting businesses with minimizing the threat of workplace violence and, in the event that it occurs, helping them recover.”
The McGowan Companies will offer XL Catlin’s Workplace Violence and Stalking Threat insurance on surplus lines or admitted basis with liability limits up to $5 million. The policy covers expenses related to a workplace violence incident including public relations counsel, psychiatric, medical or dental care, employee counseling, temporary security measures, and rehabilitation expenses, personal accident, legal liability, and business interruption expenses.
“From higher education to hospitality, from manufacturing to healthcare facilities — businesses of all sizes, across industries, can find themselves at the center of a workplace violence incident,” said Paul Marshall, Managing Director of the McGowan Companies. “By teaming up with XL Catlin, we are able to offer our clients access to the most comprehensive workplace violence insurance on the market.”