Risk Management

Managing Brand Reputation Risks

We are finding Reputational risks are at the top of concerns for many Corporate businesses. This is filtering down into Small to Medium Business as we recognise the importance of our Brand image..

In a survey by the insurance group ACE, 81% of companies consider reputation to be their most significant asset. That same survey also found 92% of companies believe it is also the most difficult areas of risk to manage. Also 68% said information and advice on how to manage it is hard to come by.

CPR Insurance Services can advise you about these risks and how to manage them.

There are many reasons it has become an important risk to manage. For a start social media and the 24 hour news cycle have raised awareness and the significance of it. It was a much simpler risk to manage before the instant news cycle came along. A Public Relations consultant with crisis management skills used to have more time to handle it. Now the damage can be instant.

Your reputation can be affected by the impact of other risks. A Products Liability claim, or a Medical Malpractice claim. Even Unfair dismissal or bullying or sexual harassment claims can get negative publicity.

It is essential to understand how external stakeholders view your company. To manage reputational risk, organisations need to monitor and measure their reputation on an on-going basis in all channels and in different markets. However, it is the expectations of these stakeholders about your company which is vital in managing your reputation.

 So if you have done something to a client that has annoyed them. If you also have not identified that problem and fixed it. Then they are probably telling other clients in many different ways. It might never make a headline but you are probably going to lose business as a result, because your reputation is being damaged.

For advice on this, talk to us. We are experts who will save you

Latest News

CPR Insurance Services Awarded Authorised Representative Insurance Business of the Year for 2019

Mandy and Robert Cooper were proud to receive the inaugural Authorised Representative Business of the Year from ANZIIF in the Australian Insurance Industry Awards for 2019.

We share this award with all our staff, Lauren, Guy and Sarah and thank them for their dedication in providing the best possible customer service. We also thank our clients who have made our business what it is today. We thank you all so much.

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Finalist in the Insurance Industry Awards

We were pleased to be advised this week that we are a finalist in the Australian Insurance Industry Awards in the category of Most Outstanding Authorised Representative Business for 2019.

Our company very much appreciates the accolade and just being nominated is prestigious to us. The awards ceremony is in August and we will see how we go, but being in the Top 4 is a credit to our team who have worked tremendously hard in the last eight years.

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