Manage reputational risks and stay on the front foot in a crisis with our game-changing cover, Reputation Protect PLUS.
What would a damaged reputation cost your company? In the age of social media, and 24/7 news, construction firms’ reputations can be demolished in a matter of seconds.
Reputation is one of the intangible factors that accounts for 81% of a company’s value. So the damage will come at a large price: Lost revenues, litigation, fines from regulators, a plummeting stock price.
Reputation Protect PLUS is a specialist cover that protects construction companies in two ways : risk assessment and rapid response crisis management.
How would your company manage these real-life scenarios:
- Structural defects appear in a residential project, and evacuated families launch a social media campaign against the developer
- A construction company’s cyber security is breached and the media gets wind that confidential information has been stolen
- A housebuilder is criticised on national television for its "unfinished estates, shoddy workmanship and crumbling houses.
WHAT WE DO
With Reputation Protect PLUS, you will be teamed with communications and media experts to manage the situation. You will also benefit from lost revenue cover. Companies receive help and reassurance on two fronts:
A strategic media analysis report is compiled by industry experts. It is designed to:
- Detail management awareness of stakeholder and industry risks
- Highlight vulnerabilities in the business
- Advise on forming a crisis communications strategy.
If a negative event occurs, a three-point plan is activated:
- Reputational crisis response: construction companies enjoy 24/7 access to a panel of crisis communication consultants, plus real time media monitoring
- Financial reputational loss: the company is protected for up to 180 days of falling net operating profits. This includes the cost of an expert to quantify and present the loss
- Rectification advice costs: you will be covered for the costs of external expert advice on the underlying cause of a crisis and related future preventative measures.
Scandals, negative publicity and crisis events can affect any construction firm at any time. Is your company reputation not worth the highest levels of protection?
Talk to us about how Reputation Protect PLUS can protect your organisation.
Our global construction specialty offers industry expertise. For 30 years our integrated team of specialists has been committed to working in partnership with clients to deliver exceptional service, deep specialist knowledge, client advocacy and tailored advice.
Here are some reasons to select our team:
- Our integrated team of specialists are leaders in their field and understand your industry
- We operate a number of market leading facilities which deliver capacity, pricing, coverage and claims benefits to our client base and which also generate market derived income
- JLT have maintained our high levels of investment in specialist claims resources. Our team is integrated within our construction division and works in close coordination with our placement and support teams to act as client advocates and to deliver successful claims outcomes
- We are the only one of our peers to maintain a specialist construction professional indemnity team within our construction division, which permits a holistic understanding of our clients’ construction sector issues
- We are constantly learning to ensure our industry knowledge allows us to anticipate your needs. Knowledge about insurance is not enough; we pride ourselves on also being knowledgeable about your industry.