This new coverage is designed to be broad-ranging and address the potentially life-altering impacts on victims of a violent event, and was created with feedback and guidance from carriers across the nation.
Barton Mutual Insurance Company—which provides property and casualty insurance throughout Missouri—will be the first company in the nation to offer this type of coverage to their personal lines policyholders as an endorsement to their homeowner’s coverage forms.
“This dynamic and innovative product offers peace of mind to individuals in today’s trying times, and we are pleased to work with Berkley Re Solutions in delivering it to market,” said Barton Mutual Insurance Company President, Brian King. “We are honored to bring this impactful solution to our agents and policyholders. It’s one more way to support customers if they are devastated by such a terrible event.”
Greg Douglas, President of Berkley Re Solutions—one of the nation’s leading developers of insurance and reinsurance product lines for numerous casualty risks—said that for decades, insurance providers consistently have led the way by delivering coverages and services for economic and personal hardships, and this is one more example.
“Barton Mutual’s leadership on this evolutionary coverage is inspiring; we commend Brian, his leadership team and the Barton Mutual Board of Directors for their vision. People and their families sadly now find themselves in situations where they have to navigate a society where random, violent events are increasingly common, so the need for consumer insurance which provides assistance to them in case the unthinkable ever occurs is essential,” Mr. Douglas said.
The Violent Events coverage addresses the following in the case of such an event occurring:
- Lost wages
- Travel expenses
- Pet care
- Child care
- In-home care, provided when the insured can no longer provide care to someone due to injury
- Mental health counselling
- Alarm/lock installation
- Funeral/burial costs
Source: Yahoo Finance
