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Workplace violence insurance: Does your business need this protection?

Read more: Net Quote
We live in an age where violence can strike at any time and in any place. That is also true of the workplace, where a disgruntled worker, angry customer or anyone else with access to the building can wreak havoc.workplace-violence-insurance

In 2012, 375 workers were killed in shootings that occurred while the victims were on the job, according to U.S. Department of Labor. Robbers were the assailants in 33 percent of these killings, while co-workers accounted for 13 percent of the deaths.
workplace violence insuranceEpisodes of workplace violence occur regularly. Some are smaller in profile, such as the September 2013 shooting in which a former vendor killed an employee and critically wounded the CEO of a lighting fixture company in Garden City, N.Y.
Other cases garner widespread, national attention. The federal government even controversially declared the infamous 2009 shootings of 13 soldiers at Fort Hood, Texas, to be an episode of “workplace violence.”
If you’re a small-business owner, workplace violence insurance can protect your business in the unfortunate event of an incident where someone attacks or even kills another person at your workplace.
The insurance covers various expenses related to workplace violence, including the cost to your business of:
Providing medical expenses and salary reimbursement to employees affected by workplace violence.
Offering a death benefit to the family of an employee slain in an episode of workplace violence.
Hiring mental health professionals to help employees cope after an incident.
Tapping the expertise and services of security experts, crisis management consultants and public relations professionals.
Reimbursing company revenues lost due to business interruptions in the wake of a violent incident.
Every company should consider this type of coverage, says Greg Bangs, vice president and workplace violence expense insurance product manager at the Chubb Group of Insurance Companies.
“Workplace violence incidents have occurred in most types of companies,” he says. “Even the best-managed companies can be victims of this type of violent behavior.”  Read more @ Net Quote



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