Risk Placement Services enhances crisis management product for SMEs

Risk Placement Services enhances crisis management product for SMEs | Insurance Business

Risk Placement Services enhances crisis management product for SMEs

Risk Placement Services (RPS) has introduced new enhancements to its Crisis Protect product for small businesses.

The company explained in a statement that the enhancements were made “in response to the current evolving risk landscape.”

RPS’s Crisis Protect offers indemnities for first and third parties. The product has a flat annual premium of $2,000 for up to five locations, for businesses with revenues of less than $250 million. In addition, Crisis Protect offers crisis response consultant costs up to $1 million for pre- and post-incident risk management services.

Now, RPS has partnered with crisis consulting firm R3 Continuum to further enhance the product. Clients can access additional professional advice, regular bulletins, and guidance from the consulting firm, allowing them to better assess and respond to security threats and crises.

“The pandemic and recent protests have heightened the number and scale of risks felt by businesses,” said RPS senior national broker Comber McHugh. “As the security environment in which businesses operate rapidly evolves, this enhanced product will help clients meet their duty of care to employees; meet regulatory and legal obligations in regard to protecting their people; and ensure they are best placed to recover and rebuild should a crisis occur.”

Crisis Protect is available to quote, bind, and issue online for independent agents and brokers.