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. QBE’s Crisis Event Coverage may help to address these issues. The actual coverage provided is in the Extensions of Coverage policy section. Not all insurers provide a similar coverage.
Crisis Event Coverage:
D. The Insurer will pay for the cost of any Crisis Event Expenses that result from a Crisis Event that first occurs and is reported to the Insurer during the Policy Period. The Insurer’s obligation under this provision is subject to a limit of $20,000 for each Crisis Event first occurring during the Policy Period and $40,000 in the aggregate, regardless of the number of Crisis Events qualifying for Crisis Event Expenses, or the number of persons or entities who are Insureds.
Crisis Event Definitions:
D. “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 agreed to between the Named Insured and the Insurer, that the Named Insured reasonably believes will have a material adverse effect upon the Named Insured’s professional reputation.
E. “Crisis Event Expenses” means reasonable fees, costs, and expenses paid by the Named Insured for consulting services provided to the Named Insured in response to a Crisis Event. Such consulting services shall be provided by a public relations firm that has been approved by the Insurer.
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Lee Norcross, MBA, CPCU
Managing Director, CEO
(616) 940-1101 Ext. 7080