Posted on 12 Oct 2011
The Chartis insurers introduced ReputationGuard, an insurance policy that provides innovative coverage to help policyholders cope with reputational threats.
Developed by Chartis’ Executive Liability division, ReputationGuard delivers the benefit of both access to world-class reputation and crisis communications professionals as well as coverage for costs associated with avoiding or minimizing the potential impact of negative publicity. The result is cutting-edge coverage against publicity that puts reputation and brand image at stake.
A recent survey of public and private board members shows that 69% of them now rank reputation risk as their primary concern.1 Another recent survey found that 79% of business decision makers believe they are only 12 months from a potential crisis.
ReputationGuard gives policyholders access to a select panel of the internationally recognized and award winning communications firms of Burson-Marsteller and Porter Novelli. These firms are committed to providing strategic guidance and implementation support on critical communications issues on global, national and local scales.
Threats to reputation and brand image are more common and wide reaching today than ever before—and can impact a company’s bottom line. Events such as executive scandals, questions about product safety, data breaches, litigation and other negative publicity can become front page news and quickly impact reputation or brands. ReputationGuard combines the global reach of Chartis and its partners to increase an organization’s preparedness and access to key resources to stem the flow of damaging publicity in order to help protect its most valuable asset – its reputation.
“In today’s world, one person’s negative opinion can quickly become adverse publicity on a global scale,” said Tracie Grella, President of Chartis’ Professional Liability unit. “Public perception of the response to an event can have a lasting impact on an organization’s reputation. ReputationGuard is a unique solution to this exposure.”
Policyholders will gain access to a panel of world-renowned public relations experts and their affiliates:
Burson-Marsteller: Burson-Marsteller is a leading global public relations and communications firm operating across 96 countries. Companies engage Burson-Marsteller when the stakes are highest, during a crisis or at times of fundamental change or transition. It provides companies in crisis with strategic counsel and program development across the spectrum of public relations, public affairs, digital media, advertising and other communications services. For more than half a century, Burson-Marsteller has been selected time and again as a trusted partner to some of theworld’s largest companies.
Porter Novelli: A global public relations leader, Porter Novelli has been providing issues and crisis counsel for nearly 40 years, serving clients from 90 locations around the world. Last year the agency introduced its Real-time Reputation specialty, which recognized that a world in which social media can damage hard-won reputations in just minutes requires a fundamentally different way to practice crisis communications. Porter Novelli’s Real-time Reputation Specialty is an end-to-end offering that includes everything from preemptive communications to programs that help restore corporate reputation after an incident. Its team of specialists in brand, corporate communications and social media work with senior corporate and public affairs communicators to plan for adverse events and move rapidly – within minutes – to manage these events both online and off, employing both conventional and digital means to mitigate possible damage to corporate reputation.