Spacey need not apply
A news story piqued our interest in the Brouha office recently, enough to hit google and do some digging, into insurance and more specifically, its origins. As one of us comes from a household with an Insurance Broker under the roof, it seemed fitting to hold some discussions over where we thought it originated, before finding out if we were right. Turns out, when questioned on it, the Broker had already done some homework! They explained - almost as well as Google did - that it was borne from merchants with expensive cargos obtaining loans which only had to be repaid if the ship reached its final destination safely, therefore sharing the risk of loss amongst a group, which is the fundamental principle of insurance.
The news story that kicked off the day’s lesson, was that of the new ‘cancel culture’ insurance and how ‘celebrities’ are being offered insurance against their life blowing up! The policy covers access to a 24/7 hotline, security advice and crisis support should they find themselves at the centre of scandal. Isn’t it a bizarre world we find ourselves in? Thanks to social media and the speed in which news (good or bad) can spread, we’re all familiar how things can rapidly unravel for those in the public eye and how much worse things can get when not handled correctly. This insurance - the premium for which will be calculated based on their wealth, annual earnings and analysis of their risk based on their past and social media use – offers ‘proper, professional and fully comprehensive care overnight’. Of course, everyone has limits and Mark Borkowski, the leading UK publicist heading up the operation, has stated Prince Andrew and Kevin Spacey, need not apply. The policy also aims to help with research, analysis, monitoring and training to prevent potential reputational issues - or at least predict them in advance.
This policy is essentially putting a value on effective communications, working quickly and effectively in a reactionary way in order to manage perception. While we might not operate in the world of celebrities, it’s a reminder of how important perception and reputation management is, whoever you are, individually or as a business.
Taking a reactionary approach can mean you find yourself on the back foot, which is a much more difficult place to work from. If you want to proactively manage how you are perceived in your market and push positive messages consistently and effectively, Brouha can help. Contact us on 01672 514947 or email hello@brouhamarketing.com