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Following the shocking murder of UnitedHealthcare’s CEO in New York, top executives are increasingly seeking enhanced security measures, as reported by a leading risk management firm.
Matthew Dumpert, managing director at Kroll Enterprise Security Risk Management, noted a surge in inquiries from CEOs and board members for heightened personal security. “We had executives reaching out continuously for more comprehensive protection,” Dumpert stated. He emphasized the visibility of CEOs as targets for hostility, saying, “A CEO is the lightning rod that attracts ire, irrespective of the services provided.”
The tragic incident involving Brian Thompson, who led UnitedHealthcare, occurred amidst a rise in threats against professionals in the healthcare sector. Dumpert pointed out that animosity directed towards frontline healthcare workers is also felt more broadly, including towards insurance companies due to shared markers of potential violence.
Thompson’s role as the CEO of one of the largest health insurance payers in the U.S. may have made him particularly vulnerable. Reports indicate that he was shot outside a hotel in Manhattan as he headed to an investor meeting without security. Speculation arose immediately that his assassination could be linked to the company’s high rates of claim denials, with bullet casings at the scene bearing the terms “deny,” “defend,” and “depose,” possibly referencing a relevant publication regarding insurance practices. As of Thursday afternoon, the assailant had not yet been apprehended.
Read more on the Brian Thompson shooting
Chris Pearson, the CEO of BlackCloak, which specializes in safeguarding executives, remarked that the incident marks an unprecedented event in recent U.S. corporate history. “The repercussions—personal, corporate, and social—are deeply overwhelming,” he commented, noting the extraordinary nature of such violence against a corporate leader.
The implications of Thompson’s murder could lead to significant changes in how organizations approach executive security, particularly at public engagements where their presence could be anticipated. Pearson stated, “This incident introduces a new dimension to risk assessment for high-profile events.” Unlike many of his counterparts in the health-insurance sector, Thompson did not have a dedicated security team.
In the 36 hours following the shooting, various companies from diverse industries reached out to Kroll for additional security services. Recent data indicated that about 20% of S&P 500 companies provide some form of security benefits for their top executives, which represents a notable increase over the last decade, according to a CNBC analysis of information from AlphaSense. However, UnitedHealth’s recent proxy statements did not indicate that any executives currently benefit from company-funded security services.
In the healthcare sector, notable companies such as Cigna and Humana report on protective measures for their CEOs in proxy filings. In 2023, vaccine manufacturers Moderna and Pfizer disclosed over $1 million spent on executive security. Notably, just two days before Thompson’s shooting, Walgreens filed an announcement detailing home security measures for their CEO, Tim Wentworth, citing the necessity to protect against potential threats.
CVS Health similarly indicated in a 2023 proxy statement that its former CEO, Karen Lynch, was mandated to utilize corporate transportation as a component of a security program during her tenure. Following her departure in October, David Joyner succeeded her as CEO.
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