Defined Active Assailant Incident
When an incident occurs within the insured area from insured property.
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.
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
ACTIVE ASSAILANT DEFINITION
- Aggravated Assault
- Murder and non-negligent manslaughter
- Justifiable Homicide
- 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.
- Shelter & jail / correction facility
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.
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|
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.
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.
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.