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. Golden Bear’s Crisis Coverage may help to address these issues. Even though the Golden Bear malpractice coverage is duty to defend, the Crisis Event coverage is reimbursement. The actual coverage provided is in Supplementary Payments 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 Policy
Crisis Event Coverage
E. Crisis Management
The Company will reimburse the Insured Crisis Management Expenses the Insured incurs to mitigate a Crisis resulting directly from any covered Claim.
The maximum reimbursement amount available for Crisis Management Expenses will be $25,000, in the Aggregate. The sublimit shall be part of, and not in addition to, the Limit of Liability set forth in the Declaration.
Crisis Event Definitions:
F. Crisis means negative media publicity of information pertaining to the covered Claim which has been made public and has caused, or is reasonably likely to cause, a decline or deterioration in the professional reputation of the Insured law firm or the professional reputation of any attorney currently employed by the Insured law firm. Negative media publicity means any adverse coverage by a traditional news network, such as broadcast TV, periodical magazine, newspaper, print advertisement, or radio. Negative media publicity shall also include adverse social media posts on any social media platform, except social media commentary posted by one person.
G. Crisis Management Expenses means the reasonable and necessary costs of retaining for an independent public relations consultant and the cost of associated advertising and public relations media and activities.
Crisis Management Expenses require prior consent with the Company.
CLICK HERE TO OBTAIN AN ATTORNEY MALPRACTICE QUOTE
Lee Norcross, MBA, CPCU
Managing Director, CEO
(616) 940-1101 Ext. 7080