Preparing for the unexpected with umbrella and excess coverage

December 2017

CNA and Advisen are proud to release a white paper that highlights the advantages of getting umbrella & excess insurance coverage to keep liability claims from reaching crisis levels. The paper underscores that in terms of crisis management expense coverage, getting an umbrella insurance policy and excess coverage is like getting the right kind of prompt, empathetic response that can keep catastrophic loss from happening. It also features an infographic that shows what an umbrella policy does to assist a in mitigating reputational damage to the company and avoiding financial ruin.

Firms are facing a changed environment when it comes to dealing with claims

Organizations are now operating in a very different environment where a claim can result in a negative impact to businesses of all sizes in any industry. Claims are also affected by general increases in loss costs, particularly in bodily injury cases. Healthcare costs have skyrocketed, litigation expenses are trending up, and jury verdict awards seem to increase every year.

An additional challenge facing businesses today is the widespread adverse publicity associated with an accident which can quickly spiral out of control due to social media and the 24-hour news cycle. Claims are also affected by general increases in loss costs, particularly in bodily injury cases. Healthcare costs have skyrocketed, litigation expenses are trending up, and jury verdict awards seem to increase every year.

The good news is that it is possible for organizations to prepare for and address the unexpected with an umbrella policy & excess insurance coverage, which can include services to mitigate losses.