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November 2016

Reputational Coverage and Why You Need It

Shutterstock_500205292A good reputation is more valuable than money, as it can take a lifetime to build one, but only a moment to destroy it. If you are a practicing lawyer, chances are you’re insured for professional malpractice, but what you are far less likely to have insured is your good name.

Bad News Spreads Fast, Particularly Bad News

Thanks to the immediacy of news and social media, there has never been a bigger threat to a lawyer’s reputation than is true today. When you are shopping for lawyers’ professional liability insurance, it is important to keep in mind that reputation-related catastrophes can happen to any law firm or lawyer, often without warning.

There are many things that can quickly damage the reputation of a lawyer and his firm, such as:

  • Being misquoted in the media
  • Negative Internet reviews
  • Malicious hacks of social media channels
  • Negative word-of-mouth
  • Whistleblowing by disgruntled employees or clients
  • Poor financial performance

As you have insurance to cover other disasters and risks, it is critical to ask your insurance broker about policies to ensure that you will be protected and have coverage that will cover the complex process of rebuilding trust in the aftermath of an incident that may tarnish your reputation.

USI Affinity’s Comprehensive Reputation Coverage

With six new policy enhancements, USI Affinity offers comprehensive reputation coverage for attorneys. Should your firm be negatively impacted due to false accusations made publicly, USI Affinity has negotiated up to $25,000 reimbursement of reasonable fees, costs and expenses for consulting services provided by a public relations firms for each crisis event, up to $50,000 for all crisis events in a policy period. Payments made are not subject to a deductible.

For more information about how we can protect your good name as well as that of your law firm, contact USI Affinity today.