Crisis Management Expense Insurance is designed to reimburse colleges, universities and other educational institutions for many voluntary expenses incurred because of covered occurrence that creates a crisis situation. The principal characteristic of these expenses is that they are not covered by other types of insurance included in their portfolio of insurance policies. As a business officer of a university, college or school, you must be aware of all the expenses an institution tragedy or crisis can engender.

Can your educational institution afford a crisis?

• A fire rages through a fraternity house on college campus injuring several students.
• A portion of an arena collapses during a college basketball game and dozens of attendees are trapped beneath the rubble
• A bus transporting a school’s field hockey team is involved in a serious accident, killing several team members
• A series of assaults occurs on campus; police are unable to apprehend the perpetrator

How will your educational institution pay the costs created by these or any other crisis? For some expenses, your customers will be compensated under your current portfolio of insurance policies. Unfortunately, other expenses will not be covered.

For example, most property insurance polices are designed to help the insured pay the cost to repair or replace property damaged by a covered cause of loss. However, these policies do not consider personal property owned by students to be covered property. Similarly, most general liability policies are designed to protect the insured against its legal liability for bodily injury or property damage sustained by third parties at an institution-sponsored or managed event. However, these policies do not respond to voluntary payments made by the institution to help injured parties or their families.

Crisis Management Expense Insurance can reimburse your institution for voluntary expenses like those listed here.

• Funerals or related services
• Psychiatric counseling, grief counseling or similar professional services
• Travel expenses for injured persons and their families
• Compensation for loss of damage to personal property of others
• Private security or investigation services
• Public relations

In the event of a crisis, these voluntary expenses may be difficult or impossible for an institution to afford without insurance. This policy provides limits of $1 million or more for your clients’ protection and enables them to respond more confidently to the needs of others in a crisis situation