New Workplace Violence Product
NU Online News Service, Nov. 15, 2:30 p.m. EST?American International Group, Inc. yesterday announced the introduction of an insurance coverage for losses associated with incidents of violence in the workplace.
The New York-based firm said the American International Companies offering is called Workplace Assurance and the coverage includes access to the services of Citigate Global Intelligence & Security, a business intelligence, controls, corporate investigations and security consulting firm.
According to the United States Department of Justice annual National Crime Victimization Survey, as many as two million violent acts are reported each year in the U.S. The cost of those incidents is more than $36 million annually the Workplace Violence Research Institute estimates.
"Workplace violence is a growing threat in today's world," said Diane Borden, vice president and head of the crisis management unit for AIU Commercial Lines?AIG's international P&C operation. "Workplace Assurance offers companies an innovative way to manage what was previously perceived as a self insured risk."
She said the product couples indemnification with consultant response.
Workplace Assurance, AIG said, provides coverage for consultant costs, related expenses?among them security measures, informant rewards, medical costs and lost salary?death and dismemberment benefits, and business interruption.
Coverage also includes access to a 24-hour emergency response help line. The product is initially being introduced in the United States, the United Kingdom and Europe.
The company said CGIS will act as a consultant to Workplace Assurance insureds, providing pre-incident security briefings and acting in a response capacity. CGIS's security practice is headed by Paul M. Viollis, managing director and practice leader, an expert in workplace violence avoidance who has written five books and numerous articles on the subject.
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