Willis Towers Watson, Liberty Specialty Markets Launch Reputational Crisis Coverage
Willis Towers Watson and Liberty Specialty Markets have partnered to offer reputational crisis insurance that enables organizations to transfer the financial risk associated with certain types of reputational crises and provides access to non-insurance capabilities, including AI-powered data analysis.
The new Reputational Crisis Insurance includes live, client-controlled reputational data and intelligence analysis provided by Polecat Intelligence Limited. The coverage is available globally and is initially available to clients in the leisure & hospitality, manufacturing, retail and transportation sectors.
According to Lewis Edwards, head of Underwriting, Specialty Binders at Liberty Specialty Markets, clients’ increasing exposure to both traditional media and social media has led to a rise in reputational losses globally. The new product provides coverage for the loss of an organization’s gross profit following a reputational crisis event and provides financial protection as well as tools to protect a company’s reputation.
“The ability to act quickly and transparently can have a hugely positive impact on a crisis outcome,” he said.
Liberty Specialty Markets offers specialty and commercial insurance and reinsurance products across UK, European, Middle East, US, Bermuda, Asia Pacific & Latin America markets.