Crisis Management insurance policies help cover costs resulting from events that damage or have the potential to damage the perception of your law firm.
Most crises will negatively impact sales and the firm’s reputation. And some can be severe enough to shut down a law firm entirely. Crises should be diffused by public relations (PR), crisis management consulting, or group counseling.
For example, a firm-leased vehicle is involved in an accident with a school bus filled with students. The crash leaves several students in critical condition.
After the accident, you find out that your employee who caused the accident was intoxicated at the time. The press would cover news of the event for a long time, requiring you to employ a Crisis Management PR team to recover from the situation.
This is a crisis because it negatively affects your firm and even has the potential to put you out of business. If a crisis is not handled quickly, it can not only call your firm’s character into question but can also jeopardize the wellbeing of everyone involved. A crisis management insurance policy will protect your company.
Crisis response plans are essential for businesses of all sizes. Therefore, you should ensure you have one in place to minimize damage to your brand during a crisis.
We suggest crisis management policies for a variety of reasons. However, we highly recommend you talk to one of our risk advisors if your business:
- Relies on public sentiment to drive profits
- Maintains a social media presence
- Utilizes high-profile advertising and media initiatives
- Adverse Media Exposure
- Data Breach
- Response & Upgrades
- Political Turmoil
- Product Contamination & Recall
- Security Upgrades
- Terrorism Violence
Lawyers Insurance Alliance can help with other types of crisis management as well. Contact us to discuss your specific needs and our extensive capabilities.