To help companies during a crisis situation, Fireman’s Fund announced a new crisis management coverages for admitted commercial umbrella policies.
The crisis management response costs endorsement provides a sublimit of $250,000 for response costs to a crisis management event, regardless of fault. Covered response costs include: medical expenses, funeral expenses, psychological counseling, travel expenses, temporary living expenses and expenses to secure the premises.
The crisis management loss coverage component of the product provides $50,000 in addition to the policy limit to cover fees and expenses incurred by a crisis management or public relations firm, and any costs for necessary printing, advertising, mailing of materials or required travel.
Fireman’s Fund policyholders purchasing an umbrella policy or property coverage are eligible to purchase the crisis management products.
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