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Insurance Rates For Mass Shootings Jump As Incident Total Rises

The cost of buying insurance protection against mass shootings has spiked more than 10 percent in the U.S. this year following a string of deadly events, Reuters reports. The U.S. has recorded 293 mass shootings so far this year, according to the Gun Violence Archive, which defines them as any event involving the shooting of four or more people besides the assailant. That compares with 309 shootings for the same period last year, and a sharp increase from 240 in 2020. Demand for such insurance has risen after recent shootings, including the worst school shooting in nearly a decade last month in Uvalde, TX.


Active shooter insurance typically covers victim lawsuits, building repairs, legal fees, medical expenses and trauma counseling. Chris Parker of Lloyd's of London insurer Beazley said his clients were now buying insurance to cover themselves for $5-10 million in losses, compared with $1-3 million four years ago. Policyholders typically pay tens of thousands of dollars for $1 million in coverage. Beazley's clients include schools, municipalities, houses of worship, bars and restaurants. Other buyers include organizers of events such as marathons, concerts, Fourth of July parties and Pride marches. The price of an active shooter insurance policy varies by location, safety protocols and the gun laws in the state involved. Insurers are already charging schools, health are institutions and retail establishments more and prices in general are nearly up to 10 percent higher than last year, said Tarique Nageer, of the insurance company Marsh. Still, most organizations do not have insurance against such attacks.