Travelers Introduces Crisis Management Expenses Endorsement

Travelers has a new crisis management expenses endorsement for commercial umbrella policies to help mitigate the negative publicity generated by a crisis event.

The insurer says the endorsement has an aggregate limit for all crises combined that will pay up to $50,000 for expenses incurred for retaining a public relations/crisis management consulting firm or planning and executing a public relations campaign.

Travelers says key features of the Travelers Crisis Management Services Expenses Endorsement include:

• Choice of crisis communications firm—unlike other carriers, Travelers does not dictate which firms can be used

• Coverage for the duration of a crisis—once activated, the endorsement will cover expenses until Travelers determines that the crisis is over or until the limit is exhausted, whichever occurs first

The endorsement limit is not a sublimit to any of the other policy limits but, rather, applies in addition to other limits, says Travelers, adding that the coverage will be immediately available on an admitted basis in 43 states and is expected to be available in most other states in 2011.