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4Front
Kiln 4Front provides a revolutionary risk transfer solution and balance sheet protection for the expected revenue that could be lost following adverse media reports that affect the reputation of the company.
In recent years there has been a growing realisation of the complexity and fragility of corporate reputation, and the issue now features at the forefront of the commercial mind. Issues such as corporate behaviour and faulty products have made recent headlines and the effects of a resulting fractured reputation can bring more than simply short-term financial damage. It comes as no surprise to hear that independent surveys show that loss of reputation is consistently topping the charts as the greatest perceived risk facing business.
Although the effects of a loss of reputation could threaten the mid- or long-term success of the business (or even prove fatal) most companies will find that the immediate aftermath of an event will provide severe cash shortages as revenues are instantly affected.
4Front from Kiln provides a unique response to those calling for an insurance product to provide financial security after a reputation loss. It protects the revenue streams of a policy holder's products against potential impairment or destruction resulting in the event that an adverse media report damages the reputation of the product, company or its brands. As a first party policy, it does not provide indemnification to third parties but aims to help in the transitional period of recovery following a reputation loss.
The 4Front product can be tailored to match the concerns and loss events that each individual business might fear, but it could include media reports to the effect that:
The policy holder's product has caused or is likely to cause accidental
bodily injury or death or accidental damage
The policy holder has recalled its product from wholesalers, retailers or customers
The policy holder operates its business in a way that is incompatible with its corporate image
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