New Liberty Mutual Insurance Endorsement Makes Crisis Management Part of New Commercial Lead Umbrella Policy Form

BOSTON--(BUSINESS WIRE)-- To better protect mid-sized companies from the potentially devastating impact of a business crisis, Liberty Mutual Insurance now provides a crisis management endorsement as part of its new commercial lead umbrella policy form.

The endorsement gives policyholders up to 72 hours to identify a crisis and file a claim to receive up to $50,000 in crisis management support from Weber Shandwick, an internationally recognized public relations firm with a long history of helping Fortune 500 companies successfully navigate crises. Other insurers’ crisis management endorsements often require policyholders to file claims within 24 hours of the crisis event.

“Our endorsement gives policyholders the flexibility to respond to the two broad types of crises faced by most mid-size companies: immediate and emerging,” explains Danya Kazakavich, chief underwriting officer for umbrella at Liberty Mutual Insurance’s Commercial Markets strategic business unit. “Sometimes a situation is clearly a crisis that needs immediate action. Other times it can take days for a situation to rise to the level of a full-blown crisis. Giving policyholders 72 hours to identify a crisis and file a claim lets them effectively manage both types.”

Beyond the standard $50,000 limit that is included with the new lead umbrella policy, up to $250,000 of additional crisis management coverage is available.

The new crisis management endorsement is the latest enhancement to Liberty Mutual Insurance’s umbrella product. In December of 2010, Liberty Mutual Insurance launched a new customized umbrella form that made it easier for brokers and agents to meet the umbrella needs of their clients by having key coverages – such as automobile, liquor and employers’ liability – automatically follow the primary policy, and by featuring updated language that was easy to explain.

About Liberty Mutual Insurance

"Helping people live safer, more secure lives" since 1912, Boston-based Liberty Mutual Insurance is a diversified global insurer and the third largest property and casualty insurer in the U.S. based on A.M. Best Company's report of 2010 net written premium.

Liberty Mutual Insurance also ranks 82nd on the Fortune 100 list of largest corporations in the U.S. based on 2010 revenue. As of December 31, 2010, Liberty Mutual Insurance had $112.4 billion in consolidated assets, $95.4 billion in consolidated liabilities, and $33.2 billion in annual consolidated revenue.

Liberty Mutual Insurance offers a wide range of insurance products and services, including personal automobile, homeowners, workers compensation, property, commercial automobile, general liability, global specialty, group disability, reinsurance and surety. Liberty Mutual Insurance (www.libertymutualinsurance.com) employs over 45,000 people in more than 900 offices throughout the world.

About Weber Shandwick

Weber Shandwick is a leading global public relations agency with offices in 74 countries around the world. The firm’s success is built on its deep commitment to client service, our people, creativity, collaboration and harnessing the power of Advocates - engaging stakeholders in new and creative ways to build brands and reputation. Weber Shandwick provides strategy and execution across practices such as consumer marketing, healthcare, technology, public affairs, financial services, corporate and crisis management. Its specialized services include digital/social media, advocacy advertising, market research, and corporate responsibility. In 2010, Weber Shandwick was named Global Agency of the Year by The Holmes Report for the second year in a row; an ‘Agency of the Decade’ by Advertising Age, Large PR Agency of the Year by Bulldog Reporter, a Digital Firm of the Year by PR News, and Top Corporate Responsibility Advisory Firm by CR Magazine. The firm has also won numerous ‘best place to work’ awards around the world. Weber Shandwick is part of the Interpublic Group (NYSE: IPG). For more information, visit http://www.webershandwick.com.

Liberty MutualRichard Angevine, 617-574-6638

Source: Liberty Mutual Insurance