Crisis Response Coverage

From a balcony collapsing at an apartment complex to sexual assault in an office building, the fallout from catastrophic events can quickly draw media attention. Property owners and managers must take action immediately to minimize reputational damage and protect their financial welfare. If not handled properly, losses to the company can be devastating.

Crisis Response coverage provides the expertise and funds to navigate and manage a major disaster. From costs associated with securing the scene, to service providers and crisis management fees, it ensures policyholders can quickly and efficiently respond. By restoring public confidence and safeguarding their reputation, crisis response coverage protects the financial wellbeing of property owners.

Claims Scenarios

Drowning at Apartment Complex Stuns Community, Captures Local Media Attention

A tragic event generated scrutiny from local media after two young boys drowned in a swimming pool at an apartment after sneaking out for a nighttime swim while their mother was asleep. Two residents of the building pulled the boys from the bottom of the pool and performed CPR on them before they were rushed to the hospital where they were pronounced dead.

With Crisis Response insurance in place, a statement was immediately issued to the press by a PR firm on behalf of the property owner to get ahead of the narrative and accurately explain the details of the tragic incident. The statement offered condolences to family members; thanked the residents for their efforts to save the boys; and provided reassurance that proper pool safety precautions are in place and that management would be pursuing additional measures to prevent another such incident from occurring, as the boys had climbed over a locked fence to get to the pool. Crisis Response coverage also paid for the funeral expenses for the two boys.

Woman Sexually Assaulted in Elevator of Office Building

A 30-year-old woman was sexually assaulted in an elevator of an office building, after a man followed her and attacked her. A lawsuit was filed, claiming that the security guards who worked at the building should have stopped the man. Instead, he was able to get into the elevator after she used her keycard to board it, according to the lawsuit. The press got a hold of this narrative and ran with it before the owner of the building was able to provide some explanation for the security lapse. In fact, there are multiple safeguards in place at the building to prevent violent attacks like this one from happening.

With Crisis Response coverage, a firm experienced in managing such catastrophic incidents would have provided a statement to the media on behalf of the property owner offering regret for the unspeakable incident, along with a rundown of the safeguards in place and the owner’s commitment to determine how the criminal bypassed each security guard and to make the appropriate changes to regain the confidence of the tenants, public and shareholders. 

What to Look for in Crisis Response Coverage

When securing Crisis Response coverage look to make sure the following costs are covered:

  • Costs to secure the scene
  • Crisis management firm fees approved by the carrier
  • Medical or funeral costs for affected persons
  • Temporary living expenses for affected individuals
  • Emergency transport expenses
  • Costs corresponding with crisis service providers
  • Any other authorized expense

According to experts, if a catastrophic situation is not dealt with quickly and effectively, the business character of a property owner or manager can be put into question. In addition to the loss of revenues, the health and psychological well-being of their workers can also be damaged. This type of specialized coverage provides property owners with peace of mind and proven support in the event of a crisis. Distinguished as part of its Real Estate Umbrella program includes Crisis Response coverage to provide the resources required to manage a crisis effectively.