![]() Our reputational crisis insurance solution includes a “bodily injury” provision in the standard wording, which covers first-party reputational costs related to adverse publicity caused by a significant bodily injury event. But those policies won’t cover the potential losses and costs caused by the reputational fallout from such an incident. In this scenario, the attraction’s public liability and property policies would cover all third-party costs. The bad publicity resulted in the early closure of the carnival and reduced ticket sales for the tourist attraction. While no one was seriously injured and the media fairly and accurately conveyed that message, more people saw the social posts without any context leading to rumors and speculation that people were severely harmed or even died. A ride malfunctioned resulting in dramatic images and videos on social media. This includes loss of gross profit as a result of the reputational damage, as well as the cost of crisis communications and brand rehabilitation.Ī high-profile tourist attraction hosted a carnival. Our reputational crisis insurance includes a “customer abuse” provision in the standard wording that covers the reputational costs of adverse publicity caused by the mistreatment or abuse of a customer by an employee. In such a scenario, we could help the airline recover. Customers began to book with other airlines as the social media backlash grew. The airline issued a statement to the press but was seen on social media as striking the wrong tone. The videos went viral, leading some people to say they would boycott the airline. They posted the videos to social media saying they were shocked at her treatment by the airline. Other passengers filmed staff refusing to board the woman. The customer, was wrongly thought by staff to have pushed one of their colleagues. Interim claims payment: The insurer will pay a proportion of the loss immediately, so that you can cover critical expenses right away because in a crisis, you can’t afford to wait for your claim to be processed.Ī global airline attracted public criticism after its crew stopped a customer boarding a flight.We can arrange up to $50 million of aggregate cover for critical costs such as losses suffered while your business is interrupted. Profit protection: Working with Liberty Specialty Markets, a leading global insurer with a strong financial rating, we can cover you for loss of gross profit as a result of named reputational risks.We help you manage the financial impact of reputational risks. Brand rehabilitation: We understand it can take time to rebuild trust in your brand, so our solution includes promotional and advertising costs for brand rehabilitation and revenue recovery.We’ll arrange and pay for crisis consultancy experts to support your response during an event and your recovery afterwards, including post-event public relations costs. Crisis communication: Every minute counts in a fast-moving situation.We help you establish a plan of action, respond and recover quickly and minimize reputational damage. Artificial-Intelligence powered data analysisĪnd WTW’s Reputational and Crisis Dashboard aggregates Polecat’s data for nine triggers and named perils on a single platform in real time.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |