Today CNN broke an exclusive story about a surgeon falsely accused of wrongdoing.  In brief, the surgeon was accused of making false statements to cover up a surgical mistake – statements that were later found to be highly inaccurate and misdirected. The lawyer who originally made the accusations has recanted. Unfortunately, with the sensationalism of the original story, internet searches concerning the surgeon’s name from two years ago, rate more highly in search engine results than the recently published story setting the facts straight. This has not only affected his name in a negative manner, but has significantly driven down his business revenue as a result of the lack of referrals.

Having Enterprise Risk Management coverage in place, such as reputational risk, may help mitigate losses suffered from falling income and measures taken to restore, defend or mitigate the insureds reputation. In example, in this situation, the surgeon is paying an online reputation company nearly $900 a month to help him reclaim his name.

To discuss coverage options for those risks that keep you up at night, give Oxford a call to explore your options!