Reputation Costs definition
Reputation Costs means reasonable fees and expenses incurred by, or on behalf of, an Insured Person who is a chief executive officer, chief financial officer, chief legal officer, director or equivalent executive of the Named REIT to mitigate the adverse effects of a Reputation Crisis. Reputation Costs exclude any fees and expenses by any crisis management service provider if such provider has also been retained by, or on behalf of, a REIT.
Reputation Costs means the reasonable fees, costs and expenses charged by any public relations firm, crisis management firm or law firm retained by or behalf of an Insured Person, to mitigate the adverse effects to such Insured Person’s reputation as a result of a negative public statement made about him or her by a regulator.
Reputation Costs means the reasonable fees, costs and expenses charged by any firm that is listed in Appendix A of this Policy and incurred by an Insured Person to mitigate the adverse effects to such Insured Person’s reputation as a result of a negative statement made about him or her by a Regulator relating to a Claim otherwise covered under this Policy, provided such fees, costs and expenses are not otherwise covered under the Policy.
Examples of Reputation Costs in a sentence
Thereafter, no Defense Costs, Asset Protection Costs or Reputation Costs may be incurred without the Insurer’s prior consent, which will not be unreasonably withheld or delayed, and only Defense Costs, Asset Protection Costs and Reputation Costs to which the Insurer has consented will be payable under this Policy.
Moreover, the Asset Protection Costs Sublimit and Reputation Costs Sublimit are part of, and not in addition to, the Limit of Liability.
More Definitions of Reputation Costs
Reputation Costs means reasonable fees, costs and expenses of a firm retained by an Executive solely to mitigate the negative impact upon such Executive’s reputation as a result of a negative statement made by any individual authorized to speak on behalf of an Enforcement Entity; provided that such firm is retained within thirty (30) days of such negative statement. Such negative statement must have been included in a press release or published by any print or electronic media outlet during the Policy Period. Such Executive will retain a firm of his or her choosing but will, as a condition precedent to coverage for such costs, obtain the prior approval of the Insurer within thirty (30) days of such negative statement. In no event will the Insurer pay the fees of a firm if such firm is also retained by or on behalf of an Entity.
Reputation Costs means the reasonable and necessary fees, costs and expenses charged by any public relations firm, crisis management firm or law firm retained by or behalf of an Executive to mitigate the adverse effects to such Executive’s reputation as a result of a negative public statement made about him or her by a Regulator.