Chartis expanded its XSEnhanced commercial umbrella program to include the retail industry. XSEnhanced Retail is the second product in the XSEnhanced suite of industry-specific commercial umbrella coverages developed by Chartis’ Excess Casualty Division.
XSEnhanced Retail coverage highlights include:
- An expanded definition of “insured” to include any vendor acting as a distributor or seller of the insured’s products, with coverage for bodily injury or property damage arising out of the sale or distribution of the insured’s product(s) in the normal course of the vendor’s business;
- Coverage for bodily injury or property damage arising out of professional services performed by or on behalf of the insured, including wrongful acts performed by any employed lawyer; and
- Expanded definitions to provide third-party discrimination or humiliation coverage.
In addition, insureds have access to CrisisResponse and RiskTool. CrisisResponse provides claims support, professional assistance and first dollar coverage outside the umbrella limit in the event of a crisis, including:
- Up to $250,000 indemnification for crisis management costs, such as medical care, temporary living and psychological counseling for distressed employees;
- Up to $50,000 indemnification for public relations expenses, allowing access to an extensive network of public relations and crisis management firms; and
- A product recall enhancement that amends the definition of CrisisResponse costs to include indemnification of expenses incurred by the recall, inspection or disposal of an unsafe or contaminated product in connection with a crisis situation.
RiskTool enables policyholders to obtain ready-to-use best practice assessments, identify workplace risks to reduce employee injuries, and build and monitor risk management programs online. RiskTool also features training resources.
Source: Chartis, www.chartisinsurance.com.
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