NetworkNewsBreaks – Wrap Technologies, Inc. (NASDAQ: WRAP) Partners with XINSURANCE to Launch Safe Response Program for Private Security Market
Wrap Technologies (NASDAQ: WRAP) and XINSURANCE announced a strategic partnership to develop and bring to market the WRAP Safe Response Program, a certified operating standard for organizations that employ or contract security personnel. The program is designed to establish a documented standard for training, equipment and response before encounters escalate, targeting a U.S. workforce of approximately 1.28 million security guards across corporations, healthcare systems, schools, retailers, hospitality properties, transportation networks, critical infrastructure and other environments. The initiative follows the June 15 Bureau of Alcohol, Tobacco, Firearms and Explosives ruling that classified the BolaWrap (R) 150 as neither a firearm under the Gun Control Act nor a weapon under the National Firearms Act, removing a federal barrier to its use as an early intervention option for unarmed security personnel.
Under the partnership, WRAP will own, certify and audit the Safe Response standard, while organizations can adopt it for their own security operations and require contracted security providers to certify personnel under the program. XINSURANCE will handle insurance activities contemplated by the program, including product design, underwriting, pricing, placement, policy servicing and claims. WRAP said the model expands its addressable market beyond law enforcement by enabling enterprises carrying security-related risk to establish the standard across their properties and contracted security operations.
To view the full press release, visit https://nnw.fm/ghbBa
NOTE TO INVESTORS: The latest news and updates relating to WRAP are available in the company’s newsroom at https://ibn.fm/WRAP
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
Wrap Technologies (NASDAQ: WRAP) and XINSURANCE announced a strategic partnership to develop and bring to market the WRAP Safe Response Program, a certified operating standard for organizations that employ or contract security personnel. The program is designed to establish a documented standard for training, equipment and response before encounters escalate, targeting a U.S. workforce of approximately 1.28 million security guards across corporations, healthcare systems, schools, retailers, hospitality properties, transportation networks, critical infrastructure and other environments. The initiative follows the June 15 Bureau of Alcohol, Tobacco, Firearms and Explosives ruling that classified the BolaWrap (R) 150 as neither a firearm under the Gun Control Act nor a weapon under the National Firearms Act, removing a federal barrier to its use as an early intervention option for unarmed security personnel.
Under the partnership, WRAP will own, certify and audit the Safe Response standard, while organizations can adopt it for their own security operations and require contracted security providers to certify personnel under the program. XINSURANCE will handle insurance activities contemplated by the program, including product design, underwriting, pricing, placement, policy servicing and claims. WRAP said the model expands its addressable market beyond law enforcement by enabling enterprises carrying security-related risk to establish the standard across their properties and contracted security operations.
To view the full press release, visit https://nnw.fm/ghbBa
NOTE TO INVESTORS: The latest news and updates relating to WRAP are available in the company’s newsroom at https://ibn.fm/WRAP
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
