Singapore: Arthur J. Gallagher launches new reputation risk practice across Asia Pacific
Source: Asia Insurance Review | May 2015
Arthur J. Gallagher has announced a new practice line specialising in helping large corporate clients to define, document and mitigate reputation risk and brand damage.
Gallagher has been developing solutions to help clients in this increasingly important area of risk management and “offer the broadest cover available,” it said in a statement.
The Gallagher Reputation Risk Practice is jointly headed by Mr Stuart Davies (National Practice Leader for Professional and Financial Risks based in Sydney) and Mr Dick Heath (Chief Executive of the Gallagher Asian operations based in Singapore).
Risk assessment modelling
Mr Davies said: “The insurance portfolios of larger organisations typically comprise a mix of management and public liability among other policies, and more recently many are sensibly adding cover against cyber risk. These are vital but they all leave a gap in covering brand damage which, as we know, can have a serious long-term cost well after the event. It’s great news for these businesses that this is now something that can be protected through carefully planned risk management strategies and the right insurance solution.”
Mr Heath said: “We have listened to our clients express increasing concern about reputation risk over recent years. Our client-focused and innovative culture has facilitated our ability to find a solution to what has been, up until now, a largely uninsurable risk. Our risk assessment modelling enables us to ascertain the best risk management and risk transfer options for our clients.”