Chartis has introduced XSEnhanced: Real Estate, the third in the XSEnhanced suite of industry-specific commercial umbrella coverages developed by its Excess Casualty Division. XSEnhanced: Real Estate addresses many of the unique exposures facing the real estate industry by offering enhancements such as:
- Coverage for bodily injury or property damage arising out of professional services performed by or on behalf of an insured, including wrongful acts performed by an employed lawyer;
- Expanded definitions to provide third-party discrimination coverage; and
- A stand-alone pollution endorsement for additional named perils, such as pesticides, vandalism and carbon monoxide. The pollution endorsement also allows for extended time to report a pollution claim.
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 situation. Specifically, CrisisResponse offers:
- Up to $250,000 indemnification for crisis management costs, such as medical care, temporary living and psychological counseling for displaced occupants;
- Up to $50,000 indemnification for public relations expenses, allowing policyholders to access 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 best practice assessments, identify workplace risks to reduce employee injuries, and build and monitor risk management programs online. RiskTool features training resources designed specifically for the real estate industry, including training on safety regarding carbon monoxide and evacuations, a loss prevention resource library, and audits on emergency action plans and building fire safety.
The XSEnhanced suite currently includes XSEnhanced: Restaurants, XSEnhanced: Retail and XSEnhanced: Real Estate.