Bad things can happen to a law firm that are not malpractice. If not addressed promptly could possibly end or damage the reputation of a firm or one of its attorneys. Everest Reinsurance Crisis Event Coverage may help to address these issues. Even though the Everest Reinsurance malpractice coverage is duty to defend, the Crisis Event coverage is reimbursement. The actual coverage provided is in Coverage Extensions policy section. Notice of a Crisis Event claims notification is also a Notice of Potential Malpractice Claim. Not all insurers provide a similar coverage.
From the declarations Page
A. CRISIS EVENT EXPENSES $ 25,000
From the Policy
Crisis Event Coverage
SECTION II – COVERAGE EXTENSIONS
A. CRISIS EVENT EXPENSES
The Insurer will reimburse the Insured for all Crisis Event Expenses incurred as a result of all Crisis Events that first occur during the Policy Period, subject to the Sublimit of Liability referenced in ITEM 5.A of the Declarations.
Crisis Event Definitions:
F. Crisis Event means:
1. the death, departure or debilitating illness of the sole proprietor, managing partner, or any practice group leader of the Named Insured;
2. an incident of workplace violence at the offices of the Named Insured referenced in ITEM 1 of the Declarations; or
3. the filing of an involuntary bankruptcy petition against the Named Insured.
G. Crisis Event Expenses means reasonable fees incurred by the Named Insured and consented to by the Insurer, for necessary consulting services provided by a public relations firm in response to a Crisis Event.
CLICK HERE TO OBTAIN AN ATTORNEY MALPRACTICE QUOTE
Lee Norcross, MBA, CPCU
Managing Director, CEO
(616) 940-1101 Ext. 7080