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The fatal attack on UnitedHealthcare CEO Brian Thompson late last year marked a turning point in how companies view executive safety. While most large companies have some sort of protective measures in place, the incident is leading many leaders, including executives and board members, to reevaluate their company’s security procedures.
“There’s a significant uptick in evaluations happening right now,” says Glen Kucera, president of enhanced protection services at Allied Universal, which provides security for about 80% of Fortune 500 companies. “Boards, investors, and other stakeholders are increasingly demanding that risk assessments be carried out.”
Some CEOs cost millions a year to protect—Meta, for instance, spent $23 million protecting Mark Zuckerberg in 2023. But companies should think twice before committing to full-time security for an executive, which can cost $500,000 a year or more, experts say.
If a company is interested in increased security, it can start by hiring a company to do a risk assessment, or analysis of potential threats to the organization and its executive team—one security expert I spoke with said his firm charges around $10,000 to $15,000 for that service.
Looking ahead, companies that prioritize security are likely to do this kind of evaluation regularly, and update security measures as needed.
“Going forward, all security policies will be living documents that are revisited every six to 12 months,” Glen Kucera, president of enhanced protection services at Allied Universal, which provides security to roughly 80% of the Fortune 500, tells Fortune.
Read more about the evolving landscape of executive protection, who actually needs it, and what companies should address before committing to such investments here.
Brit Morse
brit.morse@fortune.com
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Watercooler
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