Crisis Response Insurance

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If you are a broker or individual looking to purchase crisis response insurance, you can get in touch with the team directly.

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If you have not purchased crisis response insurance before, and want to learn more about this type of insurance, our frequently asked questions maybe of interest.

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What is crisis response insurance?

In today’s environment of changing security risks, companies are looking to build strong crisis response capability. Crisis response insurance allows clients to add additional knowledge and expertise to their existing security provisions and to scale-up security if required.

Unlike crisis management insurance, which is designed to protect an organisation’s reputation in the event of an incident, crisis response policies are first and foremost designed to protect people and assets in the event of a security related incident – through safe and timely resolution of the crisis. Crisis response insurance cover typically includes access to strategic advice as well as crisis management and recovery services from specialist responders.

Crisis response insurance can include:

  • Criminal risks
  • Catastrophe risks
  • Information risks
  • People risks
  • Political risks
  • Terrorism risks
  • Compliance risks
  • Fraud risks

Does my business need crisis response insurance coverage?

Crisis response coverage is relevant to businesses of all sizes and industry types to ensure they are nimble in the event of an unforeseen security related incident or crisis. Policies are relevant for companies who are operating both domestically and overseas.

What can crisis response insurance cover?

Crisis response insurance can cover up to 56 security-related, insured incidents. Perils are split across four categories:

  • Property
  • Extortive crime
  • Terrorism and political violence
  • Business continuity

Policies can cover anything from whistleblowing, fraud, extortion, sabotage, and acts of terrorism to name a few.

What is not covered by crisis response insurance?

Crisis response policies do not cover fraudulent insurance claims or criminal activities carried out in relation to the policy. Sanction clauses are in place for this reason.

What additional services can crisis response insurance companies provide?

Crisis response policies provide buyers with a 24/7 emergency response number on a priority basis. This allows clients to access experts at any point, anywhere in the world at any time, to assist in navigating a crisis in a safe and timely manner. All fees and expenses are paid for by the insurer.

What are the policy options / types of crisis response insurance?

Policies typically come as a package, covering up to 56 insured risks, depending on the insurer. This is often the most economical way to purchase this type of insurance and indeed the most comprehensive. Buyers can choose from a menu of options depending on their individual exposures.

We find that while a client may feel that they are not exposed to some perils included as standard, the cost of the policy will rest heavily on their key exposures. In cases where a client has certain exposures which they wish to major on, we ensure we tailor the product accordingly.

What are the pricing factors involved with crisis response insurance?

Pricing for crisis response insurances depends on the nature of the client’s work, locations of travel and operations, and whether they have suffered an incident in the past.

Is there a difference between crisis response insurance and crisis management insurance?

Crisis management insurance is designed to protect the buyer’s reputation in the event of an incident. Crisis response policies also do this vicariously but are first and foremost designed to protect the people and assets in the event of an incident through safe and timely resolution of the crisis.

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