|Chartis Launches ReputationGuard®, Reputational Risk Insurance|
NEW YORK – October 11, 2011 – The Chartis insurers today 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.2
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:
Chartis is a world leading property-casualty and general insurance organization serving more than 70 million clients around the world. With one of the industry’s most extensive ranges of products and services, deep claims expertise and excellent financial strength, Chartis enables its commercial and personal insurance clients alike to manage virtually any risk with confidence.
Chartis is the marketing name for the worldwide property-casualty and general insurance operations of Chartis Inc. For additional information, please visit our website at http://www.chartisinsurance.com. All products are written by insurance company subsidiaries or affiliates of Chartis Inc. Coverage may not be available in all jurisdictions and is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain coverage may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.
1 “Concerns About Risks Confronting Boards,” EisnerAmper Board of Directors Survey, May 25, 2011