Frequently Asked Questions
WHAT IS THE GALLAGHER CRISIS RESILIENCE SOLUTION?
Our Crisis Resilience Solution provides clients with an indemnified response solution to a wide range of security related crisis events combined with a variety of included services to help you anticipate, prevent, respond to and recover from a crisis. Therefore it helps you address your duty of care to employees and the public, and minimise disruption to your business.
WHAT DOES THE CRISIS RESILIENCE SOLUTION COVER?
Our Crisis Resilience Solution covers the following insured events: Act of Terrorism, Assault, Blackmail, Civil Commotion, Cyber Extortion, Deprivation, Detention, Disappearance, Emergency Repatriation, Hijack, Hostage Crisis, Kidnap, Product Tamper, Sabotage, Stalking or Threat or a series of connected acts thereof.
WHAT IS A CRISIS DEFINED AS?
In our policy, a crisis is defined as any decisive, unstable or crucial time in the policyholder’s affairs or business resulting from an insured event that either has directly caused a material disruption, imminent financial loss; and/or the reporting of an insured event in local, regional or national media including radio, television, newspaper or magazines which is likely to cause a material disruption to the policyholder.
WHAT DOES THE COVER INCLUDE?
The insurer will pay the reasonable and necessary fees and expenses incurred for the security services of the crisis consultant in response to a crisis including:
Crisis Consultants fees and expenses – up to GBP 100,000 per Insured Event and in the aggregate
Extra Expenses – up to GBP 5,000 per Insured Event and in the aggregate
Rest and Rehabilitation Expenses – up to GBP 5,000 per Insured Event and in the aggregate
WHAT SERVICES ARE INCLUDED?
24/7 Response Consultants
- 24/7 access to experienced response consultants
- Policy underwritten by AIG Europe Ltd
Online Training/Awareness
- Access to online training and awareness building information
- Online risk management advice for multiple threats
Emergency Funds
- Funds of up to £5,000
Business Recovery Advice
- Ongoing access to Arthur J. Gallagher experts
- Support provided in getting back to business with minimum impact
HOW IS THIS POLICY BETTER THAN OTHER OPTIONS IN THE MARKETPLACE?
There are no similar policies in the marketplace that offer response coverage for as broad a range of insured events with as extensive a range of risk management services.
ISN’T THIS ALREADY COVERED UNDER MOST BUSINESS INSURANCE PLANS?
The short answer is “No.” In order to obtain coverage for as broad a range of crises, many separate insurance policies would have to be purchased at a much higher cost to your business
WHAT SIZE OF BUSINESS IS THIS PRODUCT SUITED TO?
This product is designed for businesses that have a turnover above £10m. It enables access to crisis response consultants for a wide range of crises without having to buy multiple other products at a potentially greater cost e.g. terrorism insurance, product recall cover, kidnap and ransom cover. If your business has a turnover under £10m, please click here
WHAT IS THE COST OF NOT BUYING THE COVERAGE AND SELF-INSURING A CRISIS?
In the absence of this coverage you, as a business, may not know who to turn to in the event of a crisis to get 24/7 access to crisis consultants.
WHO IS THE INSURANCE CARRIER?
The policy is underwritten by AIG Europe Ltd
ARE TAXES AND FEES INCLUDED IN THE STATED PREMIUM SHOWN IN THE QUOTE?
No, the annual premium of £500 excludes insurance premium tax. Insurance premium tax is calculated at 12% so the total annual premium will be £560.
WHAT IS THE CLAIMS-HANDLING PROCESS?
Insureds have access to a 24-hour data hotline to report actual or even suspected incidents.
HOW DO I CANCEL A POLICY?
The Policyholder may cancel their policy at any time by providing the Insurer written notice. The Insurer will retain the pro rata proportion of the premium, provided no claims or incidents have been reported. The policy may only be cancelled by the Insurer if the Policyholder fails to pay the required premium.
WHAT IF THERE ARE QUESTIONS THAT ARE NOT ANSWERED HERE?
You can call your preferred Arthur J. Gallagher Professional or contact us here using the form at the bottom of the page