AEGIS London launches novel active assailant parametric

London, UK — A parametric insurance product that protects small businesses against economic losses following a shooting or malicious incident within 250m of their premises has been launched by Lloyd’s insurer AEGIS London. This is the first policy of its type to be launched by the syndicate.

The active assailant parametric product is targeted initially at SME businesses in the Dallas area for portfolios of up to 10 properties. INSDEX Active Response, which is distributed through partner brokers and in time via AEGIS London’s Opal platform, has been developed in conjunction with Skyline Partners, a recent graduate of the Lloyd’s Lab. Skyline’s parametric platform monitors open-source data from the Dallas Police Department to identify when a triggering event has taken place.

Within 48 hours of relevant data being published by the Dallas Police, policyholders will be notified that an insured event has occurred and asked to confirm that, as a consequence, they have suffered a loss. AEGIS London aims to make payment no longer than 14 days after the event but likely much sooner. Limits are flexible up to $50,000 per event, or a maximum of $500,000 per policy holder. Positive basis risk[1] is an important consideration for parametric products and therefore limits are capped at 10% of an insured’s annual business interruption values or rental income. This helps to ensure the innovative product is treated as insurance.

Calum Williams, terrorism underwriter, AEGIS London said:

“SMEs are typically the most financially exposed to this type of crime. They are often uninsured and can be faced with substantial legal and medical costs if victims or their families make a claim against them after a violent incident on or near their property. In addition, if their reputation suffers or trading is reduced following an event of this kind, many will face an insurance gap, particularly as some intangible assets are difficult to claim for under traditional insurance policies. Even those with insurance often have high deductibles because events of this nature have become so commonplace. This policy provides clarity of cover, but most importantly pays out quickly after an event significantly reducing the expected adverse financial consequences. This means that insureds are given much needed liquidity at a time of need.”

Shooting events are estimated to cost the US economy $229bn pa according to a 2019 Joint Economic Committee Report.  There have been 520 shootings in Dallas in the calendar year ended May 31.[2] In the same period last year there were 430 shootings.

Depending on how the product performs in Dallas, AEGIS London also hopes to roll it out to other states with California and Florida the next on the list, locations which also suffer a high number of shootings and where there is sufficient history of publicly-available police data to enable accurate historical loss analysis and pricing.

Looking further ahead, AEGIS London’s parametric group, which has been working on this product, is also considering the development of parametric solutions for other situations where a reputable data set is available and where there are clearly identifiable insurance gaps.

Laurent Sabatié and Gethin Jones, Skyline co-founders commented:

“This parametric insurance product utilises independent and trusted third party data available from the police department’s incident database. The availability of this data has enabled us to create a parametric index and model the risk and price the product at 60 meters (200 feet) resolution for the whole of Dallas utilising data science and actuarial techniques. We also monitor the claims and provide notifications to brokers that an insured event has occurred as soon as the data is made available from the police department.  

The product is proof of our structuring capabilities, INSDEX technology and innovative approach to developing new parametric products for new markets. We were thrilled to work with Calum Williams and the AEGIS London team on this exciting new application and look forward to expanding the scope of coverage to other Cities and States in the US.”


[1] When an insurer pays out under a policy where the insured was not affected by the loss event or the amount paid under the policy is greater than the loss suffered by the insured.

[2] Dallas Police Department -




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Ruth Starling, Luther Pendragon

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0781 2089710


Notes to Editors

AEGIS London is the UK-based subsidiary of AEGIS (Associated Electric & Gas Insurance Services Limited), a mutual insurance company that serves the needs of the energy industry. AEGIS London operates Syndicate 1225 at Lloyd's.

AEGIS London has grown from its origins as an energy insurance specialist and is today a successful, diversified business, leading and participating in a wide range of classes traditionally written in the Lloyd's market. With over 170 people in its team in London and two in Canada, the business continues to develop its capabilities in new business lines, bringing its unique, collaborative style to new clients and new classes, while operating for the mutual benefit of all involved.

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