Insurer offers policies to cover crisis PR
Protecting your brand in a firestorm of public backlash can carry a huge price tag, one comparable to—gasp!—your legal bills.
She said her firm will follow suit in the future.
With that in mind, in this week’s news a division of AIG is offering a new type of insurance policy that helps embattled companies pay for crisis PR. And if any company knows the ins and outs of a reputation-tarnishing experience, it’s AIG.
The insurance giant took a $130 billion government bailout, after it took some of the blame for causing the national financial crisis in 2008.
“Reputation Risk Insurance,” offered through its Chartis subsidiary, provides access to two top-notch crisis firms: Burson-Marsteller and Porter Novelli.
Having insurance cover crisis PR is not new. Many clients bill crisis communications work through their law firms, and the bills go to the insurance companies. It makes sense; many public relations battles are just important as legal ones.
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