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Retailers and malls are reckoning with the harsh reality that they have become what the Federal Bureau of Investigaton and U.S. Department of Homeland Security call \u201csoft targets\u201d for mass shootings, which bring death and devastation to the communities where they operate and hurt their businesses in various ways.<\/p>\n
Some retailers and malls are acknowledging their vulnerability in investor materials. In at least its last five annual reports, for example, Walmart has warned that \u201cactive shooter situations (such as those that have occurred in our U.S. stores)\u201d is one type of catastrophic event that \u201ccould materially adversely affect our financial performance.\u201d In the last two years, Simon Property Group has similarly included \u201cmass shootings\u201d among concerns that could keep consumers away from in-store shopping.<\/p>\n
The rise in such incidents has led insurance companies, starting less than a decade ago, to develop policies that support retailers and malls on a variety of levels.<\/p>\n
Why now<\/h3>\n
While retail locations have been the scene of a mass shooting in every decade since the 1970s, more than half of the attacks in shopping areas have occurred in the last 15 years,<\/strong>\u00a0according to the Violence Project. The FBI, in its most recent report on active shooters, an analysis of 2022, found that nearly half the year\u2019s 50 incidents happened in open spaces, following by places of commerce (28%), education (8%), houses of worship and government (4%) and health care (2%).\u00a0<\/p>\nIndustry groups like the National Retail Federation and ICSC offer training and advice on how to prepare for and respond to these events.\u00a0<\/p>\n
Insurance covering active assailant events grew out of this growing threat, according to Lucy Straker, focus group leader for U.S. political violence and deadly weapons protection at insurance company Beazley. After 9\/11, insurance companies including Beazley began offering coverage for terrorist events that brought about loss of life, property damage and business interruption on a massive scale. More recently, several insurers have begun to offer coverage for mass shootings.<\/p>\n
\u201cWhat we saw subsequent to 9\/11 is the emergence of lone wolf-type attacks, carried out using readily available materials \u2014 knives, guns, etc.,\u201d Straker said by video conference. \u201cThey do have a terroristic intent, but weren’t necessarily aligned to a particular group. And it was more than your everyday gang violence.\u00a0It was individuals who are pissed off with society, and mentally ill individuals.\u201d<\/p>\n
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The FBI and Department of Homeland Security consider stores and shopping centers \u2018soft targets\u2019 for active assailants.<\/h4>\n
Number of mass public shootings in the U.S., by location, 1966 to 2022<\/p>\n
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