Crisis Management Coverage

You run a popular business. It has many customers and a lively social media following. People in town love you. You donate jerseys to local youth soccer teams. You mentor small businesses. You even got an award after giving money to save the town's local clock tower.

But one night, when you can’t sleep, you take an Ambien. The next day, the internet is abuzz about some terrible things you said on the internet before driving your car into a pond. This will hurt your reputation…and your company’s reputation, which is such an important driver of business.

Crisis management is a cottage industry designed to help companies overcome adverse events that affect their sales. It's not cheap. But neither is the cost of losing business due to a crisis event.

Companies have an option to purchase something known as crisis management coverage. This is a type of insurance that allows companies to obtain a specific amount of money to either employ a crisis management firm, or any other services required to help restore a healthy reputation.