Rokstone, a global specialist re/insurance MGA, has launched Disgrace Cover, an addition to its contingency product line.
This policy also provides coverage for death and disablement, offering brands financial protection and reputation management when a celebrity spokesperson becomes unsuitable to represent or promote their products due to scandal.
In an age where social media magnifies the actions and opinions of public figures, brands face increasing exposure to reputational and financial risks.
Rokstone’s Disgrace Cover addresses these challenges by providing businesses with coverage for expenses tied to pulling campaigns, reshooting advertisements, canceling events, or repairing damaged reputations.
Backed by A-rated capacity, the policy covers up to £5 million per individual for risks related to disgrace, death, or disablement.
Rokstone takes a proactive approach to risk management, incorporating extensive background checks and monitoring social and media activity to deliver precise pricing. This data-driven product ensures same-day quotes and fast claims processing, enabling clients to respond quickly to potential crises.
David Boyle, Portfolio Manager for Contingency, commented: “Rokstone Contingency continues to innovate in response to gaps in the market. Disgrace cover isn’t new, but it’s ripe for innovation, and that’s what we intend to do. Forget high premium, high exclusion, low-limit policies, and instead think innovative data and talent backed underwriting and cover that’s relevant in today fast-moving entertainment world.”
Gavin Dollings, Chief Underwriting Officer for Rokstone Commercial, added: “Doing business with celebrities can be both financially and reputationally costly, with numerous examples widely publicised across international and social media outlets. It’s a problem that’s not going to go away and yet it is an underserved area of the market. That’s about to change thanks to our industry experience and underwriting discipline.”
