Ironshore Inc. announced yesterday the launch of a crisis management coverage feature as an extension of its Terrorism & Sabotage program.
The extension, called the Terrorism Crisis Threesixty, will be added without additional cost to all in-force standalone Terrorism policies as an automatic extension. It will offer insureds access to leading crisis response specialists following an act of terrorism or an active shooter event within the U.S. The enhancement offers third party reimbursement for crisis management services and fees with limits of up to $100,000 per occurrence.
“Coverage will advance costs for professional fees and expenses incurred by an approved crisis management firm. Crisis management services can include on-site control and containment, emotional counseling services, internal and external communications and timely response to national media coverage,” a release said.
The Active Shooter Extension protects against losses associated with Property Damage and Business Interruption, including denial of access, as well as Liability cover related to an Active Shooter event. The endorsement comes into effect following an event where an individual or group of people actively engages in killing or attempting to kill individuals in a confined and/or populated area.
“In today’s world, senseless and random acts of terror erupt on the national stage placing businesses in a perilous position to effect timely, responsible action. While a terror attack can occur in minutes, the business implications can be long term,” said Ironshore Senior Vice President, War & Sabotage James Dover. “Sudden tragedies, notably Active Shooter incidents and Lone Wolf attacks, have raised our recognition of the need for management to deploy crisis management services supported by meaningful insurance coverage protection.”
The Terrorism & Sabotage cover and Active Shooter endorsement are being offered through Pembroke Managing Agency, with underwriting handled by Lloyd’s Syndicate 4000.
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