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Member, Beacon International Group, Ltd.
Ironshore Inc. announced a new service on Thursday intended to provide companies with coverage for crisis situations that pose potential public-image risks.
The product, “Ironshore CrisisShield,” will be provided through the Hamilton, Bermuda-based insurer’s U.S. professional and management liability unit, IronPro, and is available by endorsement to IronPro insureds. Ironshore said it has partnered with former White House special counsel Lanny J. Davis, and Mercedes Colwin, a managing partner for law firm Gordon Rees L.L.P., to deliver CrisisShield.
According to Ironshore, the service provides policyholders with coverage for expenses relating to “the development of response strategies that will potentially mitigate adverse reputation consequences of certain specified risk events.”
“Increasingly, executives face unprecedented risk exposures resulting from unforeseen events that threaten both the entity’s reputation and ongoing business operations,” Greg Flood, president of IronPro, said in a statement.