Reputational Harm Insurance
Protecting you in the internet age
It was that great man of finance, Warren Buffet, who said: “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” While it’s a sentiment we can all agree with, in the real world, sometimes things happen that can do real damage to the reputation of a business or brand.
You only have to think of how BP handled the Gulf of Mexico oil disaster to see how quickly a brand can suffer. And it’s not just the big name companies either. Imagine if issues in your supply chain caused your company to be attacked in the media. Or if an employee or someone endorsing your product goes “off message” and breaks a clause in their contract. Or your IT networks and customer data are compromised. These things can really tarnish your brand and have the potential to ruin your company’s hard-fought reputation.
With technology and social media driving conversations across the media and across the globe, you need to be prepared to handle a crisis when it happens – ideally before it has the chance to harm your company’s reputation. The good news is that Reputational Harm Insurance coverage from Axis Insurance Managers will give you the tools to fight back – and save your one of your most valuable assets: your brand.
Axis Insurance’s Reputational Harm Insurance policy will provide coverage for lost revenue caused by an adverse media event. It will also pay towards the costs faced by your company such as crisis management and increased communication costs – helping to stabilize your income at a time when your brand and business are at their most vulnerable.
Having a good reputation can enhance your revenue and actually contribute to your bottom line. A good reputation can take years to build and a matter of moments to destroy. Thankfully the expert team at Axis Insurance Management has nurtured relationships in the London market to secure the optimum coverage against damage to companies, brands and reputations. By getting to know your business, they can also help you get the right insurance in place to protect your reputation. We work closely with our clients to find the right balance of coverage and coverage triggers.
Features and benefits of Reputational Harm Insurance from Axis Insurance Managers Inc. include:
• Protecting your revenue in case of an insured event. Axis can tailor this part of the policy to your specific needs and work with insurers to get the level of coverage you need at the right price
• Covers loss of revenue due to an adverse media event
• The reimbursement of the public relations costs associated with an insured event. This includes any additional costs required by an in-house communications team as well as covering the costs of notifying clients or consumers
Adverse media attention can be triggered by a variety of scenarios, including:
• Death or injury
• Food borne Illness
• The breach of a celebrity’s endorsement contract
• Harmful products and services
• Breach of confidential information
• Supply chain issues
Through our excellent relationships with insurers in Canada, the US and Europe we are able to offer worldwide expertise, experience and resources.
As with every insurance policy there are different options, policy wordings, enhancements or amendments available. Your Axis Insurance manager will be able to help create a tailor made policy to suit your exact requirements.
To find out more about Reputational Harm Insurance, or to discuss your existing insurance policies, please give one of Axis insurance’s professional and experienced team members a call at 604.731.5328 or email: email@example.com.