Here’s Why Putting a Price on Reputation Damage Is So Hard – But Totally Worth It

October 23, 2018

This Risk & Insurance article featuring Beecher Carlson’s John Kerns explores why despite the growing threat of reputation risk, quantifying and mitigating the risk itself continues to challenge risk managers and insurers.

 

An oil spill, a plane crash, a tax scandal, a sexual harassment lawsuit. In the age of social media, negative brand events are amplified, and reputations are damaged in seconds, sometimes irreparably.

The financial repercussions can be severe, from lost revenues to a tumbling stock price. “Wall Street will forgive you for an uninsured earthquake loss or a terrorism event, but it will not forgive you for operational failures that affect your reputation,” said John Kerns, leader of Beecher Carlson’s national financial services practice…read the full article here.