Travelers Insurance Company Attorney Malpractice Insurance – Crisis Event Coverage
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. Travelers Insurance Company Crisis Event Coverage may help to address these issues. The actual coverage provided is in the Additional Benefits policy section. Notice of a Crisis Event shall be deemed a Notice of Potential Claim. Not all insurers provide a similar coverage.
Declarations Page
ITEM 6 ADDITIONAL BENEFIT LIMITS:
Crisis Event
Expenses Limits: $10,000 for each Crisis Event/$30,000 for all Crisis Events
Crisis Event Coverage
The Company will reimburse the Insured for the following:
A. Crisis Event Expenses that result from a Crisis Event first occurring and reported to the Company during the Policy Period.
B. Disciplinary or Regulatory Proceeding Expenses that result from a Disciplinary or Regulatory Proceeding first initiated and reported to the Company during the Policy Period.
Crisis Event Definitions:
C. Crisis Event means any:
1. Wrongful Act;
2. death, departure or debilitating illness of a Principal Insured;
3. potential dissolution of the Named Insured;
4. incident of workplace violence; or
5. other event,
that the Named Insured reasonably believes will have a material adverse effect upon the Named Insured’s reputation.
D. Crisis Event Expenses means reasonable fees, costs, and expenses incurred by the Named Insured for consulting services provided by a public relations firm to the Named Insured in response to a Crisis Event
This blog is an excerpt from the policy. The complete policy along with applicable endorsements could impact the information provided above.
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Lee Norcross, MBA, CPCU
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L Squared Insurance Agency, LLC ® DBA in California as L2 L Squared Insurance Agency, License # 0L93416
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