American International Group, Inc. (AIG) announced that the American International Companies have introduced Workplace Assurance(SM), an insurance coverage for the financial loss associated with incidents of violence in the workplace.
Additionally, Workplace Assurance insureds will have access to the services of Citigate Global Intelligence & Security (CGIS), an industry leader in security and workplace violence response.
According to the U.S. Department of Justice’s annual National Crime Victimization Survey, as many as 2 million violent acts are reported each year in the United States alone. The Workplace Violence Research Institute has estimated that the cost of those incidents exceeds $36 billion annually.
“Workplace violence is a growing threat in today’s world. Workplace Assurance offers companies an innovative way to manage what was previously perceived as a self insured risk,” Diane Borden, vice president of AIU Commercial Lines and Head of its Crisis Management unit, noted. “As with all American International Companies’ Crisis Management products, it couples indemnification with consultant response. We look forward to a successful relationship with CGIS and Paul M. Viollis, who is an expert in his field.”
W. Gordon Knight, president, AIG WorldSource added, “Workplace Assurance responds to increased interest from clients seeking coverage for the financial impact of workplace violence incidents. The availability of Workplace Assurance reinforces our commitment to provide agents and brokers and their clients with access to the industry’s most comprehensive coverages and expert capabilities and in crisis management.”
Workplace Assurance 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. Workplace Assurance is initially being introduced in the United States, the United Kingdom, and Europe.
CGIS will act as consultant to Workplace Assurance insureds, providing pre-incident security briefings, and acting in a response capacity. CGIS’s Security practice is headed by Paul Viollis, managing director and practice leader. Viollis has extensive experience in both security and law enforcement and crisis management, having spent 22 years in this arena and worked on thousands of investigations and safety briefings.
The American International Companies offer crisis management coverages and services internationally through the AIU Crisis Management unit and domestically through AIG WorldSource, underwriting insurance for crisis situations, including kidnap for ransom, extortion, accidental or malicious product contamination, terrorism and sabotage, workplace violence, and political evacuation.
Citigate Global Intelligence & Security is a global business intelligence, corporate investigations and business controls/security consulting firm headquartered in New York with offices in Los Angeles, Boston, Miami, Dallas, Chicago and Reston, Va.
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