Berkshire Hathaway Specialty Insurance today announced the introduction of business crisis event cost coverage, which extends its casualty and health care lead umbrella policies to cover costs incurred to manage a business crisis, including the fees of a crisis management consulting firm.
The new coverage is designed to provide up to $100,000 to hire a crisis management consulting firm to advise the policyholder in managing adverse media coverage and public perceptions in the aftermath of a crisis event, such as a serious accident or explosion, an act of violence or a contamination incident. Berkshire says the coverage also is designed to pay expenses required to offer immediate support to victims and their family members, including funeral expenses, psychological counseling, travel and temporary living costs.
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