The McGowan Companies began selling active shooter insurance in 2016. 17 people were killed and a dozen injured on the 14th February 2018 at a Florida high school.
Subsequently, seven South Florida school district has bought $3 million active shooter coverage. Calls are received daily by the broker Paul Marshall of McGowan.
This insurance pays up to $250 000 per shooting victim. Building damage is also covered. It includes office buildings and concert halls. Furthermore, the insurance takes into consideration not only death but serious injuries such as total disability and loss of sight.
Many organisations are vulnerable to active shooters. These include educational, religious institutions, retailers and healthcare facilities. These places are difficult to secure. In addition, a high volume of people is often present every day.
Therefore an armed individual is able to enter unchallenged.
Accountants handle charitable contributions. Buildings as well are reconstructed where bloodshed occurred.
Some desperate families were forced to crowdfunding sites. For instance, Roger Borges is using GoFundMe to raise $1 million for his son Anthony, a Parkland student who has undergone eight surgeries since being shot five times during the massacre.
Anthony has insurance through a government-sponsored program for children, but it is, however, unclear how much it will cover.
Premiums are $1,400 per anum for $1 million coverage for a small private school. A large public school district could be quoted $50,000 to $100,000 per year for a $5 million to $10 million policy.
The building at the Parkland high school where the shooting happened, will be replaced at a cost of $25.3 million. This safety law was signed on 9th March 2018.
The vice president of Special Markets Insurance Consultants also said his firm was considering a name change for its Active Shooter Insurance policy. However, he concluded that these occurrences cannot be sugarcoated as they are what they are.