Crisis Management Coverage

Fireman’s Fund Insurance Company has introduced a crisis management coverage that pays for professional public relations counsel to help businesses overcome disaster and preserve their reputation as well as for expenses required to get back to normal operations as quickly as possible. The coverage is to help when hotel operations face unpredictable losses requiring coordinated management action and communication to restore customer trust. For example, a workplace violence incident might generate reputational issues with immediate impact on income and employees. The new coverage would offset expenses that an hotelier would incur when responding to a shooting incident. A similar scenario would be expense protection in the event of an outbreak of a communicable disease on the hotel premises.

Coverage limits can vary widely according to the industry covered and the size of the business revenue stream, but underwriters expect most small-to-medium-size customers will need limits in the $25,000-to-$100,000 range. A primary feature in the policy is coverage for post-event expenses such as medical and funeral expenses, psychological counseling for employees, and travel expenses for people injured in the crisis, witnessed the crisis or work in the location where the crisis occurred.

The new coverages can be combined with Fireman’s Fund’s coverages that address premise evacuation expense, food spoilage and contamination, errors and omissions for miscellaneous service and guest event cancellation insurance.

Dollars: Vary widely but for small-to-medium businesses, $25,000 to $100,000 range.

Carrier: Firemans’ Fund
States Available: All
Contact: www.firemansfund.com