ACTIVE
ASSAILANT

INDEX INSURANCE
SOLUTIONS

Vertical-Lines-CMYK

Protect against economic losses due to violence

Fast access to cash during crisis

Covers legal costs, additional security and other intangible losses

Incident-Picture-resized

Defined Active Assailant Incident

When an incident occurs within the insured area from insured property.

Policy

Triggered

Full limit paid

How the policy works

A pre-agreement to make a payment upon the occurrence of a triggering event rather than indemnifying the pure loss.

Benefits of this type of policy

• Certainty of cover

• Speed of pay-out

• Cover Intangible Losses (brand/reputation/human capital)

We notify you when an insured incident is published on Police Department Database.

Probability-Map_Dallas-resized

1. Incident Occurs

2. Crime Reported to Police Department and recorded on Open Source Crime Database

3. We notify you that a claim can be made under the policy

4. Once Client notification received  to progress claim, the payment made within 14 days

Vertical-Lines-white

ACTIVE ASSAILANT DEFINITION

  • Aggravated Assault
  • Murder and non-negligent manslaughter
  • Justifiable Homicide

Notable Exclusions:

  • Simple Assault e.g. A&B
  • An unlawful physical attack by one person upon another where neither the offender displays a weapon, nor the victim suffers obvious severe or aggravated bodily injury involving apparent broken bones, loss of teeth, possible internal injury, severe laceration, or loss of consciousness.

Excluded Locations:

  • Shelter & jail / correction facility

Background to the Product

Intangible cost of violence

The scenes in recent years of rioting and upheaval in American cities and across the US has left a stark reminder that violent crime remains a serious problem for all citizens of the US.

Insurance solutions have tended to focus on the tangible losses such as loss of income, business interruption, physical and property damages, and liabilities. Yet researchers have found that the less visible or intangible costs of violence are silently destructing the future value of the businesses in a neighbourhood or vicinity where crime is rampant.

These studies show that the violence can lower businesses’ potential to attract customers, retain employees, grow, and attract investments. It also forces businesses to spend more in legal and security costs whilst depreciating the value of fixed assets.

These costs are known to be difficult to insure with traditional indemnity products and to most are seen as uninsurable due to the difficulty of quantifying and validating the losses. For example, it is difficult to put a price on the damage to the brand of a restaurant or hotel, should a shooting occur outside its premise. This created the demand for Skyline’s recently launched parametric solution.

Conceptually the idea remains simple: if a violent event, shooting or stabbing, occurs within an insured area, the policy pays out a pre-agreed limit almost immediately after the event is published by the Police Department. The funds can be used by the policyholder as they see fit and can cover lost revenue, loss of future footfall, loss of attraction, injury costs or legal costs, or any other cost or loss of income due to the violent event within their vicinity.

As is the case for parametric insurance products, the quality of the data is crucial. It must be rich enough to allow the creation of the index underlying the policy and then accurately price the carried risk.

In this case INSDEX, Skyline’s own index insurance technology, processes highly detailed raw incidents data from the Police Department creating a daily feed which informs about the nature of each crime which has occurred, its location and the weapon has been used.

An incident is then classified as an “active assailant” event, if it is either an Aggravated Assault or a Homicide and a firearm or stabbing device has been used. This provides a wider definition yet remains very similar to the “active assailant” used in traditional indemnity product.

Reference –The Actuary Magazine- October 2021 Issue

graph

Example

Potential policyholders can request a quote by providing their business premises address and annual income. The insured area around the premises (as per image) is automatically generated by INSDEX. The policy payout is limited to $50,000 per location or 10% of the business’s annual income.

INSDEX Active response launched in key cities across Texas and will shortly be released in other large cities in other States across the US.
123 Main Street, Dallas, Texas, 76281 32.78022731159248 -96.80118128852801 7000 157.34 $780,000 $50,000 any one event

Defined Radius: 

Any defined event occurring within the shaded blue area will be covered under this Policy.

Please inform Your broker if You believe the location below is incorrect.

google-map

Frequently Asked Questions

About Skyline Partners

Skyline Partners Ltd, is a UK Insurtech company, focusing solely on index-based parametric insurance. Our solutions are data & technology driven and underwritten by top tier international re/insurers with superior ratings.

Skyline has developed its own index insurance technology platform and aggregates high value data from multiple sources. Our initial focus is on Renewable Energy, Agriculture and Natural Catastrophes, but our ambition is to develop index solutions for all classes and segments.

Contact Us

enquiries@skyline.partners

32 Threadneedle St
London, EC2R 8AY.

The information contained in this document is the property of Skyline Partners Limited and is issued in confidence and must not be reproduced in whole or in part or used for design, tendering or manufacturing purposes except under an agreement with, or the prior consent of, Skyline Partners Limited and then only on the condition that the copyright notice of Skyline Partners Limited is included in any such reproduction. No information as to the contents or subject matter of this document or any part shall be given or communicated in any manner whatsoever to any third party without the prior written consent of Skyline Partners Limited.