Chartis has introduced the extension of CrisisResponse XS coverage to its catastrophic excess employment practices liability (EPL) clients. Developed by Chartis’ Cat Excess Liability Division, CrisisResponseXS allows companies to act swiftly to mitigate losses and prevent reputational damage in the event of a crisis management event, as defined in the policy. CrisisResponseXS coverage is provided to catastrophic excess EPL clients for no additional premium.
CrisisResponseXS provides up to $25,000 in additional limits outside of the catastrophic excess EPL policy limits, whether or not similar CrisisResponse coverage exists in the underlying insurance. This coverage is accessible on a “first dollar basis” or as a supplement to similar CrisisResponse coverage provided in the insurance tower. It can pay crisis management costs – including fees and expenses incurred by a crisis management firm – for printing, advertising or mailing materials to manage reputational risk. Insureds also receive access to a 24-hour, toll-free crisis hotline.
“Organizations need to be prepared for a crisis and stand ready to react when needed,” said Jeremy Johnson, president of Cat Excess Liability. “In the event of a crisis event, CrisisResponse coverage provides our insureds with access to resources needed to implement a crisis management plan, respond to the needs of affected parties, and mitigate potential reputational damage.”
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