Do You Need "Disgrace Insurance"?
Celebrity endorsements are all well and good … until the celebrity starts misbehaving. That’s where the insurance companies come in. Insurance brokers report a growing interest in “disgrace insurance,” which protects companies in the event that “a brand ambassador turns into a persona non grata.” “We live in a time where interest in a celebrity’s life is everything,” said Robert Barron of Lockton.?”These people are under constant media surveillance and it’s very difficult to keep what they do a secret. Brands know that even if they have someone endorsing their product who is squeaky clean, there is always a risk they could be caught doing something.” Of course, a “wild” brand ambassador might be a good thing for some companies: “While we can’t advocate the off-pitch antics of ambassadors, there may be a time where a few wild nights might work for a brand and not against it,” said Joe Hale, a brand consultant. (HT: Marginal Revolution) [%comments]