Special Contingency Risks, a subsidiary of Willis, is launching Brandsaver, a combined insurance and consultancy protection for brand image and reputation.
It is specifically designed for companies providing branded, fast moving consumer goods (FMCG) and services as well as the hotel, restaurant and retail businesses.
Simon Burtwell, executive director, said: “We expect Brandsaver to be of interest to all consumer goods companies, particularly those with turnovers of between £5m and £250m, many of whom may not appreciate that this level of support is available.
“We are also working on a range of flexible options that will make the service available to even the smallest companies.”
“It will help them get to grips with these risks in a logical and practical way and avail themselves of the breadth of expertise which may otherwise only be available to multinationals.”
Part of Brandsaver will be access to the Risk Advisory Panel (RAP), an independent multi-skilled team including experts on reputation management, product safety and hygiene, logistics, forensic analysis, legal issues and crisis communications.
The services of the RAP are available to clients of Brandsaver up to an agreed limit in the event of an insured crisis. However, clients may also use the RAP proactively, to reduce their exposure to potential risks.
Underwriters may reimburse up to 20% of the annual premium to pay for the RAP's preventative consultancy services.