Wrap Technologies (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. The program 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 initiative 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 opens the door for private security firms to adopt the device without facing federal restrictions.
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 division of responsibilities allows WRAP to focus on standardization and certification, while XINSURANCE manages the insurance infrastructure, making the program more accessible and financially viable for security firms.
The 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. This is a significant strategic shift, as it moves the company from a public safety focus to a broader risk management solution. For security companies, the program offers a structured way to reduce liability and improve safety outcomes, which could lead to lower insurance premiums and better protection for personnel and the public.
WRAP's flagship product, the BolaWrap 150, is a non-lethal restraint device that deploys a multi-sensory distraction of sight and sound as a first response, followed by a non-lethal restraint if further escalation is required. It is designed to provide law enforcement with a safer choice for nearly every phase of a critical incident, reducing the risk of injury to officers, subjects, and the community. The device is used by over 1,000 agencies across the U.S. and in 60 countries, and its training is certified by the International Association of Directors of Law Enforcement Standards and Training (IADLEST).
The partnership also highlights the growing demand for non-lethal tools in private security, especially in environments where armed response is not desirable or feasible. By establishing a certified standard, WRAP and XINSURANCE are positioning themselves to lead this emerging market. The program could become a benchmark for security operations, potentially influencing regulatory and insurance standards industry-wide.
For more information on the full press release, visit https://ibn.fm/lvlln. To view the latest news and updates on WRAP, see the company's newsroom at https://ibn.fm/WRAP.
