The least beloved of all insurance companies, AIG has announced it’s offering insurance coverage to defray the cost of PR consultants called in during a crisis. The coverage provides for Burson-Marsteller and Porter Novelli to be wheeled in when the going gets tough and its creation should have a calming effect on the nerves of boards and investors. Let’s hope expectations are set by AIG and its partner agencies. Companies can be notoriously immature when paying hefty fees, often thinking the problem should just miraculously disappear. Unfortunately life isn’t so simple. If anyone should know that, it’s AIG.
The PR Verdict: A Minus Great idea. Be careful what you promise. Watch an interview about this here