Wrap Technologies, Inc. (NASDAQ: WRAP) and XINSURANCE have announced a strategic partnership to develop and launch the WRAP Safe Response Program, a certified operating standard for organizations that employ or contract security personnel. This initiative aims 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 program follows the June 15 Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) ruling that classified the BolaWrap 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. This regulatory clarity is pivotal, as it allows the BolaWrap to be deployed in private security settings without the legal complications associated with firearms.
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. This model expands WRAP's addressable market beyond law enforcement by enabling enterprises carrying security-related risk to establish the standard across their properties and contracted security operations.
The strategic significance of this partnership lies in the potential to standardize security practices in the private sector, which has historically lacked a unified framework for training and response. By creating a certified standard, WRAP and XINSURANCE aim to reduce liability for organizations and improve safety outcomes for security personnel and the public. The program also aligns with the growing demand for non-lethal tools and techniques to create time, distance, and tactical advantage in non-criminal calls, a core value proposition of the BolaWrap 150.
The BolaWrap 150, which has been adopted by over 1,000 agencies across the U.S. and in 60 countries, incorporates a multi-sensory distraction of sight and sound as a first response, followed by a non-lethal restraint if further escalation is required. This approach reduces the risk of injury to officers, subjects, and the community. The device is not pain-based compliance; it does not shoot, strike, shock, or incapacitate, but rather helps officers operate pre-escalation on the force continuum, reducing the risk of injury to both officers and subjects.
Wrap's complete public safety portfolio also includes the Wrap Reality immersive training platform, WrapVision body-worn camera system, WrapTactics training programs, and next-generation C-UAS solutions like PAN-DA and the 1KC Kinetic Anti-Drone Cassette. These offerings support the company's mission to provide safer, scalable, and cost-effective technologies for public safety, defense, and critical infrastructure markets.
The partnership with XINSURANCE is particularly noteworthy because it addresses a key concern for organizations adopting new security technologies: insurance and liability. By integrating insurance design and servicing into the program, WRAP and XINSURANCE provide a comprehensive solution that mitigates risk for adopters, potentially accelerating market adoption.
For more information on the full press release, visit https://ibn.fm/lvlln. Latest news and updates relating to WRAP are available in the company's newsroom at https://ibn.fm/WRAP.
