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Cyber Risks & Liabilities

By: Dan Reith
Principal Broker
Reith & Associates Insurance and Financial Services Limited

COVID-19’s Impact on Cyber Threat Activity

Cybersecurity crisis emerged as a result of the 2020 global health crisis as cybercriminals posed an increased threat to the safety of individuals and organizations. Experts are seeing an uptick in cyber threat activity as workforces continue to move to the digital landscape.

Increased Individual Attacks

In 2020, cybercriminals capitalized on fear surrounding the pandemic by producing COVID-19-related scams that trick victims into opening malicious links and attachments. Cybercriminals create fake COVID-19-related content, such as local and regional health updates, or knowledge of cures and treatments. The pandemic has created an opportunity for cybercriminals to exploit human curiosity and concern, which has led to an increase in cyberattack victims.

There’s also been an increase in phishing scam campaigns where cyber threat actors craft convincing copies of government websites and official correspondence. These attacks prey upon populations who are anxious and less likely to be skeptical of emails and other links regarding COVID-19.

Increased Organizational Attacks

As cybercriminals continue to exploit human vulnerability and individual fears surrounding COVID-19, the sudden increase in organizations with employees working from home has allowed cybercriminals to capitalize on cloud-based technologies that didn’t exist before. Research has found that companies became less secure in 2020 due to hastily deployed remote work solutions.

The Canadian Centre for Cyber Security predicts that ransomware will continue to target health care and medical research facilities as the global health sector continues to mitigate the COVID-19 pandemic. Cybercriminals taking advantage of the health crisis have the ability to jeopardize patient outcomes and public health efforts.

Another ransomware trend that emerged in 2020 is known as “double extortion,” where cybercriminals maximize their chance of a profit by threatening additional abuse of the compromised data, including auctioning or selling it.

It’s more important than ever that organizations take a proactive approach to their cybersecurity measures as well as educate employees on the risks of cyber threat activity.

Human Error as a Cybersecurity Threat

The IBM Cyber Security Intelligence Index Report found that human error is a major contributing cause in 95 per cent of cybersecurity breaches. Human errors are unintentional actions or a lack of actions by employees and users that cause or allow a security breach to happen.

Human error can typically be separated into two categories:

  1. Skill-based errors—These errors occur when a user makes a small mistake when performing familiar tasks and activities. While they know what the end result is supposed to be, they make an error due to memory lapse, mistake or negligence.
  2. Decision-based errors—This type of error occurs when a user makes a faulty decision as a result of not having the necessary level of knowledge, not having enough information about the specific circumstance or not realizing inaction is a type of decision.

These mistakes and lapses in judgment can lead to cybersecurity attacks that put organizations in jeopardy. Cybercriminals know that technical security measures are only effective when humans properly utilize them.

The following are examples of how human error can be exploited:

  • Misdelivery—Misdelivery is a common threat to corporate data security and happens when a user sends something to the wrong recipient. Employees should take care to double-check all fields of information before hitting send.
  • Password issues—According to the National Centre for Cyber Security, 123456 is the most popular password in the world, and 45 per cent of people have the same password for multiple online services. Strong, unique passwords should be encouraged among employees.
  • Patching—Software developers are constantly working to detect exploits in programs and send software updates when one is discovered. Users and employees should immediately implement the update to remain protected against threats.

Addressing human error is key to reducing an organization’s chance of being successfully targeted. Educating workforces on mitigating cybersecurity threats can empower them to actively look out for and report new threats they may encounter.

What Is a Deepfake and What Is at Risk?

A deepfake refers to a doctored video or audio recording that looks and sounds like the real thing. While manipulating video is nothing new, deepfake technology could give anyone the ability to distribute misleading and false information.

As technology advances, it’s becoming harder to discern what is real or fake on the internet, and machine learning models are beginning to have trouble detecting the forgery. While there are certain signs that make it easy for the naked eye to spot a deepfake, including a lack of eye blinking or shadows that look wrong, experts predict that deepfakes will continue to advance in sophistication. Soon, the utilization of digital forensics will be the only possibility for detection.

If deepfakes become unidentifiable, it could lead to inherent mistrust and jeopardize faith in a shared, objective reality. In addition, there is the threat of those who might seek to weaponize this technology for political or malicious purposes.

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Privately Owned Company Directors & Officers Insurance – Coverage in Action

By: Dan Reith BA(Hons) CAIB
Principal Broker
Reith & Associates Insurance and Financial Services Limited

With today’s emphasis on corporate transparency and accountability, an organization’s directors and officers face a countless number of exposures. Regardless of your company’s size or mission, the legal costs associated with a lawsuit can be devastating for both the organization and your directors and officers.

Many wrongly assume that directors and officers (D&O) insurance is only necessary for publicly traded companies. However, privately held organizations can just as easily fall victim to lawsuits that can impact the company, its officers and board, marking D&O insurance a must!

Claims Scenario: Floored by a Breach of Duty Lawsuit

The company: A private flooring installation company worth approximately $20 million.

The challenge: A Manitoba-based flooring company with less than 15 employees was recently the subject of a lawsuit. A competing flooring company sued the insured, alleging purposeful contract interference.

Specifically, the competitor accused the company of diverting contracts and sought direct and consequential damages, including lost profits, punitive damages and attorney fees. As a result, the insured and its directors and officers were taken to court.

Private company D&O insurance in action: The case above alleges a wrongful act—an act that falls directly on the insured’s directors and officers. Thankfully, D&O insurance provides coverage for alleged or actual acts, which helps organizations respond to various types of litigation.

This is particularly important when you consider that the defence costs and mediation expenses for the above case reached $193,000. Without D&O insurance, the small-sized flooring company, as well as its directors and officers, would be forced to pay for the defence out of pocket.

Claims Scenario: Investing Gone Wrong

The company: A private company specializing in business process outsourcing.

The challenge: A private company works with several Fortune 500 brands and helps manage their shipping and customer care divisions. Recently, shareholders targeted the private company, alleging fraud and misrepresentation.

These shareholders claimed they were told the money they invested would be used to acquire smaller enterprises—bolstering the organization’s outsourcing capabilities. Using the shareholders’ money, the company would purchase these enterprises with the promise of doubling the original investment. However, when several of these acquisitions failed, shareholders claimed the directors and officers did not conduct the proper due diligence to ensure they were making the right decisions.

Private company D&O insurance in action: Despite their reasonable and best efforts, the directors and officers of the insured company failed in a high-risk, high-reward scenario. As a result, they were sued for negligence and possible fraud.

The company was taken to court—a process that went on for months and led to immense legal expenses. At the end of litigation, the D&O policy limits of $2 million were nearly exhausted but helped ensure the financial longevity of the company and its leadership.

Learn More About D&O Insurance for Private Companies

Many private organizations don’t believe they need D&O insurance. This can be dangerous thinking, as just one D&O claim can drain the personal assets of a company’s leadership team.

The current litigation climate for private companies presents an unending and potentially devastating challenge. Following a financial crisis, error, business interruption or similar incident, management can be held liable. Without the proper coverage, directors and officers would have to face claims brought on by competitors, customers, business partners and regulators on their own, likely with minimal success.

The Benefits of D&O Insurance for Private Companies

  • Legal Cost reimbursement—D&O polices can provide legal cost coverage for a variety of claims.  Specifically, D&O insurance can provide companies following allegation of wrongful acts, financial mismanagement, errors in judgement and negligence.  D&O lawsuits can occur without warning, it is critical that private company leaders arm themselves with the right policy.
  • Peace of Mind—D&O claims can come from a variety of courses including employees, clients, contractors and government bodies.  For private companies, claims from creditors and competitors are particularly common.  D&O insurance ensures that private company leaders are protected regardless of where claims originate, providing timely and effective coverage.
  • An improved ability to attract new leaders—Simply put, having a strong D&O policy in place makes board seats more attractive.  This is because purchasing insurance shows prospective leaders that you take D&O risks seriously and are prepared to protect them.
  • Coverage for regulatory exposures—Regulator agencies are increasing their scrutiny of private companies, making D&O insurance all the more important.  Paying the cost of a lawyer to defend a director or officer against a government enforcement action is expensive, and private company D&O insurance policies can help with these types of expenses.

To learn more about D&O insurance and other ways to keep your organization’s leadership team safe from litigation, contact your insurance broker today.

Talk to an Expert!

Reith & Associates Insurance and Financial Services Limited

519.631.3862

http://www.reithandassociates.com/


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Cyber Risks & Liabilities in 2021

By: Dan Reith BA(Hons) CAIB
Principal Broker
Reith & Associates Insurance and Financial Services Limited

Technology was forced to rapidly advance in 2020 due to the global health crisis, which found organizations scrambling to adapt to remote working. HR technology was no exception. With the implementation of virtual onboarding processes, the creation of fully-automated payroll systems and more, HR technology adjusted to the needs of organizations in 2020.

HR technology will continue to be vital for the advancement of companies in 2021 in the four areas mentioned below.

Digital Solutions for Remote Work

As organizations continue to navigate the virtual landscape, digital solutions are essential. Keeping an eye on productivity while still fostering collaboration is possible by managing workflows and streamlining processes. Integrating platforms that offer niche solutions for digital collaboration is key moving forward. Document sharing, online chats and video conferencing can help with keeping projects on track.

Software-as-a-Service and Cloud-based HR

Organizations with cloud-based systems already in place were able to seamlessly transition from the office to working from home. For those relying on outdated technology, the shift was a bit harder. In 2021, HR should include cloud-based and software-as-a-service (SaaS) solutions to stay on top of the evolving digital landscape. These solutions allow for comprehensive employee management online, including talent acquisition, virtual onboarding, performance management and payroll.

AI-powered Talent Management

Sage People found that 56 percent of organizations plan to adopt artificial intelligence (AI) into their recruitment process in the next 12 months, compared to just 24 percent who utilized the capability in 2020. AI-powered talent management can include resume assessments and candidate ranking. AI can also schedule and conduct video-based interviews that can predict how well a candidate will fit the role.

Digital Learning

Job seekers are prioritizing educational opportunities as they search for their next career move. Employers should attract talent by implementing online education platforms as an indication of investment in their employees’ careers. Digital learning solutions are overtaking classroom-based learning, and this trend will only continue into 2021.

What Is Internet of Behaviours and How Will It Be Prevalent Going Forward?

Internet of Behaviours (IoB) is the leveraging of data to influence behaviour. Organizations utilize available data to predict and influence human behaviour. Gartner predicts that by 2023, 40 percent of the global population will be tracked digitally in order to influence behaviour.

However, IoB is already here and prevalent in many areas of daily life, including:

  • Facial recognition
  • Location tracking
  • Big data

And while IoB offers several benefits (e.g., convenience of having synced digital devices), the collection of this behaviour-focused data leaves sensitive data at risk for cyberattacks. Property access codes, delivery routes, bank access codes and more are susceptible to cybercriminals.

Businesses should be vigilant and proactive in their cybersecurity efforts to ensure that data is secure and protected. Consider introducing cybersecurity training and awareness programs in your organization in order to stay ahead of cybercriminals.

TOP CYBER THREATS FOR 2021

As the world continues to rely more and more on technology, the need to address threats to cybersecurity becomes increasingly important. With 64 percent of organizations already having experienced web-based attacks, here are seven cybersecurity threats to be aware of in 2021:

  1. Phishing — Phishing occurs when a hacker tricks someone into providing sensitive information or accessing malware by using a false identity. This can happen through email, social media accounts and more.
  2. SMS-based phishing — This form of phishing, sometimes referred to as “smishing,” occurs through SMS text messages. The attack only happens after the link within the text message is opened. While emails are typically able to identify a phishing scam and filter it out, text messages with bad links can still come through.
  3. PDF scams — These scams occur when a PDF attachment in an email or messaging platform contains a link to malware or ransomware. Scammers know people are more likely to open a PDF attachment than a website link, especially if it’s been labelled as a statement balance or press release.
  4. Malware and ransomware — Malware and ransomware can lead to hijacked software, frozen systems, and lost and stolen data. Businesses often keep data on servers that are connected to the internet, and all it takes is one crack in a company’s cybersecurity for hackers to attack and access that data.
  5. Database exposure — Customer contact information, financial records and identity records are all susceptible to hacking and theft when servers aren’t properly protected.
  6. Credential stuffing — Credential stuffing aims to gain private access through the utilization of stolen login credentials. The most common occurrence of credential stuffing happens when the same login information is used for multiple websites and accounts.
  7. Accidental sharing — Accidents happen. But when accidents contain confidential and sensitive information, company cybersecurity can be at risk. This type of threat is usually the result of human error rather than a hacker or malware issue.

Experts predict that, by 2023, cybercriminals will be stealing nearly 33 billion records per year. Learn more about protecting your organization against these cybersecurity threats by contacting Reith & Associates Insurance and Financial Services Limited today.

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Non-Profits: Employment Practices Liability & Donated Funds

By: Dan Reith
Principal Broker
Reith & Associates Insurance and Financial Services Limited

No employer wants to believe that their employees or volunteers would take legal action against them, especially in a non-profit organization. Unfortunately, over the past decade, Employment Practice Liability (EPL) has become one of the largest risks faced by organizations in both the non-profit and for-profit sectors. While these types of claims hurt any organization’s bottom line, they can be especially detrimental to non-profits that rely on donations to make up a large portion of their revenue stream. Donors want their money to be used to help your organization’s cause, not to pay off mistreated employees. In some cases, donors have actually sued non-profits over how their donations were used. To protect your organization against potential liability, it is important that you minimize EPL claims while accurately documenting the use of donated funds.

Donated Funds

A large number of non-profits rely heavily on donations to support their mission. To continue to receive this kind of support, non-profits need to be careful how they spend donated funds, as donors have become more and more scrutinizing of the organizations they give to. Recently, there has been an increasing trend of donors taking legal action against non-profits for misusing donations. Not only is the legal aspect of this expensive, but it can also hamper the ability to build relationships with new donors in the future, further costing an organization. It is extremely important that you record how donated funds are used in case your spending practices are ever called into question.

In situations involving EPL claims, donated funds must be properly managed to avoid backlash from donors. It should come as no surprise that donors may not be happy if their donations are used to cover part of a payout that results from your organization’s poor internal practices. The last thing you want is for an employee’s legal action to spark litigation from donors. The problem is, non-profits that rely heavily on donations may have no other means to cover damages awarded to an employee. To avoid these complications, it is important to stop EPL claims with good employee practices before they have the chance to turn into lawsuits.

Employment Practices

More and more employees are taking legal action against their employers for what they see as discriminatory practices in the workplace. With the potential costs they may bring, an EPL claim can be incredibly damaging to a non-profit organization, especially a small one. Implementing appropriate employment practice standards to stop harassment and discrimination will reduce the chances that an employee can make a successful claim, while also creating a positive atmosphere throughout your organization.

Start by outlining the kinds of behaviours that will not be tolerated so they are clear to all employees. Define what will constitute harassment and discrimination so it cannot be left up to interpretation after the fact. The standards you develop should apply to every level of employee no matter what position he or she holds. Equal enforcement means that every employee will be treated the same way, reducing the chance that an individual can claim they were singled out. The program should also encourage communication. Many times, employees who are having problems take legal action because they do not know what other routes to take. Having a program in place to handle employee concerns can help rectify a situation before it becomes a legal issue. Most importantly, make sure the guidelines you establish are followed. If they are in place but it is widely known that they are not enforced, they will be less effective in preventing claims.

It is important to extend these same policies to any volunteers you have working at your organization. EPL claims made by volunteers exist in a legal grey area largely defined by the extent of the volunteer’s involvement with the organization. While most of the time, volunteers have no legal base for a claim, it is still important to treat them with the same respect as any other employee. This not only protects your organization, but it also provides a positive work environment for those donating their time.

Retaliation

It is also important to note that retaliation comes into play in more than 25 percent of EPL claims. Retaliation can enter when an employee who has brought a claim against the employer feels that he or she has been punished in the workplace for his or her actions. This could take the form of position reassignment, failure to promote or even termination. An employee who originally may not have had a strong case could gain ground by showing that his or her employer retaliated against the initial claim. The addition of a retaliatory claim can increase both the potential payout to the employee and his or her chance for success.

To protect yourself from further legal action, you must be very careful when dealing with employees who have filed EPL claims. Do not make any rash decisions regarding the employee’s state in your organization. If the employee must receive disciplinary action for other work issues that are not related to his or her EPL claim, make sure to accurately document the reasons for the discipline. It is important that you can prove that you were not acting in retaliation for the earlier claim. When in doubt, contact your legal counsel for help in handling the situation in a way that does not invite additional liability.

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Insurance Tips for a Merry Christmas Season

By: Dan Reith
Principal Broker
Reith & Associates Insurance and Financial Services Limited

2020 has given us much to remember. With the Christmas holiday season fast approaching it will be important to experience it with as many warm and positive memories as we can. To that end, let us not lose sight of some simple tactics that will prevent you from adding holiday misfortune to your 2020 memory wall.

With respect to your automobile consider:

  • When shopping, place valuables in the trunk keeping seats, drink holders and open trays clear of anything of value. In the absence of a trunk, hatch-backs and mini vans, place items in a covered container or cover with a blanket.
  • Lock your car! Whether at home, in the lane or garage, or any public parking lot, this will reduce the risk of it being stolen and the loss of any personal property stored in your car.
  • Drive with due care and control no matter the weather or how rushed you are! Black ice, too much snow, not enough salt on the road or the driver in front of you who suddenly slammed on their brakes are not excuses for you to avoid being charged for an at fault loss. We suggest giving yourself extra time to get to your destination to ensure your safe arrival.
  • Be alert! Just because you are obeying the rules of the road does not mean everyone else around you is.
  • Stop texting, stop talking on the phone, and set that coffee cup down and put your snack away! Driving requires attention, especially more so in the winter adverse conditions. More than ample studies have proved driver distraction is the root cause of many fatal accidents.
  • Take a moment, and ensure your vehicle is prepared for winter driving before the snow hits. Ensure it is mechanically ready for winter, you have equipped your vehicle with a winter safety kit and the snow tires that you have installed are in sound condition.
  • While it should go without saying, but too many still forget, holiday season or not DO NOT DRINK AND DRIVE! If you drink; take a cab, stay over-night or find a ride home with a sober driver.

With respect to your home:

  • If you are celebrating the season with a real tree, ensure they are kept well watered and not placed in front of a heat source. Shut off the lights and electronic ornaments when not at home or out of the room for a prolonged period. Drying trees can lead to a total fire loss of your home in less than 3 minutes!
  • While candles do lend a seasonal scent to air and help to remove cooking odors, they are still a leading cause of house fires. Do not leave candles unattended or place them close to flammable fabrics. Always extinguish them when leaving a room for a prolonged period or leaving the house.
  • Do not leave items on the stove or in the oven unattended. It is common to find yourself short of an ingredient and make a quick trip to the grocery store without properly turning off your appliances. Keep a residential fire extinguisher near the stove, along with baking soda. Either can be used to quickly should a small fire flare up on the element.
  • Lock your home. When not at home ensure all doors and windows are locked. Do not display wrapped or unwrapped gifts near open windows. When goods are visible the home can be a greater target. Use your alarm if your home is equipped with one. Over 58% of all home robberies occur through the front door.  
  • Take steps to secure windows and doors so they cannot be pried open from the outside.
  • Ensure exterior lights are working, and on a timer, so that doorways and large windows are lit at night. Do not sacrifice safety for home decoration. Build safety into your decorating plan.
  • If traveling, have your driveway and pathways shoveled to appear someone is home. Place your lights on timers; rotate throughout the house to mimic your usual pattern of light usage throughout the day and evening. This includes festive outdoor light displays. Be sure to cancel newspaper subscriptions, to avoid build up of papers at the front doors, a clear sign that no one is home. Maintain the heat of your home at a minimum and drain water from all lines/pipes before you leave. Have a neighbor, friend or family member collect mail on a daily basis again to prevent build up during your absence. Whoever is checking in on your home leave them with your contact information but also the contact numbers for your insurance provider should a claim need to be reported. It is best it be reported sooner rather than later. This will allow for any damage to be taken care of immediately mitigating the possibility of further loss.

With respect to shopping consider:

  • Christmas shopping season is ideal for identity theft. Keep track of all credit card and debit card receipts, and shred. To maintain control of your personal information, restrict all gift purchases to only one credit card and reconcile your charges against your receipts. Ensure that your anti-virus and malware is current and up to date before you do your on-line shopping.
  • Doing your holiday shopping on-line? Expecting packages to be delivered to your home? Do not leave them unattended. Only use home delivery when someone is there to receive the package. Track your shipments and plan your absence from home accordingly. Alternatively, use an address where there is someone available throughout the business day such as your office or a post-box facility or another family member.
  • If buying goods on-line and taking delivery from private individuals, do NOT attend their homes for pick up and DO NOT invite them to your home for delivery. Meet in a well-attended public place such as the parking lot of a coffee shop. Better still, St. Thomas Police Services offers a public area for just this purpose in their parking lot. Plan to make exchanges there during the day. 
  • Lastly, protect yourself! When shopping ladies, make certain your handbag is zipped closed and cell phones secured within. Gentlemen, if you must carry a wallet put it in your front pant pocket not your back pocket. It is much easier for someone to steal it from the back.

These tips are just a few things you and your family can employ to make your holiday experiences safe, happy, and memorable, and reduce your chance for loss. For more detailed information and specific tactics contact your insurance provider, St. Thomas Police Services, OPP and/or your local fire department.

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Managing Your Post-Covid-19 Reputation

By: Dan Reith
Principal Broker
Reith & Associates Insurance and Financial Services Limited

There’s no denying that the COVID-19 pandemic has been disrupting businesses, both small and large, across the globe. Businesses have had to drastically adjust their operations.

Once the threat of the coronavirus declines, your business may be ready to open up and return to normal operations. Whether your business had to close its doors or you had to set up your employees to work remotely, it’s important to recognize the global pandemic and continue protecting your company’s reputation.

Why Is Your Reputation Important?

Many companies focus on handling reputation threats that have already happened. That is not reputation management. That is crisis management, a reactive approach to limit the damage that’s already been done. It’s important to focus on a proactive approach to mitigate reputational risks before they become a problem.

Simply put, your brand reputation is how the general public—including customers and employees—sees you, thinks of you and talks about you. It’s word of mouth.

How your business has previously responded to the coronavirus and how you move forward can play a big role in public perception and employee recruitment. As much as a good reputation is vital in driving business, it can also reinforce employees’ commitment to the company. That commitment leads to confidence and trust in the company. Employees are the face of the company, and engaged employees can be your best promoters.

How Can Your Reputation Be Affected?

There’s no denying that this global pandemic is changing how people think, behave and consume information. Since we live in a digital age, customers and prospective employees have many channels available to them as they search for and discover information about companies. A good reputation means that a business is more credible than its competitors. Reputation is all about public perception—even if it’s not factual.

There’s a need to be proactive, as reputational risk often strikes without warning. Here are some common online channels to monitor:

  • Business review websites
  • Social media
  • News releases and articles
  • Blog posts
  • Forums
  • Competitor websites

People will talk about your company regardless of whether you have an online presence. But, if you’re not online or monitoring channels, there’s no way for you to discover what’s being said, and you may risk even bigger reputation problems.

Best Practices

As everyone is coming out of lockdown and business slowly returns to normal, consider the following best practices to keep staff motivated and your reputation unharmed:

  • Put your employees first—First and foremost, keep in mind the health, safety and well-being of employees when making business decisions. The coronavirus pandemic has led to a collective loss of normalcy. Returning to work may be part of the normal that people are longing for, so continue supporting them and checking in to see how things are going. As you protect your company brand from COVID-19 implications, current employees can be the main drivers of your reputation.
  • Follow government advice—If your team has been working remotely due to shelter-at-home orders, the first topic your company needs to address is when to reopen the office. Employers should be looking to their local health departments and government for guidance on when to return to the office.
  • Prioritize safety—Along with ethical reasons, employers have a legal duty to make sure they provide a safe workplace. Considerations include testing, social distancing, personal protective equipment, sick leave policies and business travel guidelines.
  • Keep communication open and honest—Internal communications can help keep employees calm and reduce stress levels. Everyone’s been dealing with much uncertainty. There’s a need to communicate with employees openly, honestly and frequently. The same goes for external audiences like customers and partners. Go with what’s authentic for your company, whether that’s regular updates, or tips and tricks to stay safe. This is a good time to reinforce transparency. Keep communication accurate by leaning on credible sources.
  • Ask for feedback and answer questions—People may be scared and have a lot of questions. Create an open channel or a way for stakeholders to submit questions. Answer them as soon as you can, and provide the responses to everyone. If one person asked it, there are probably more who are wondering the same thing. An open line of communication is key to establishing trust.
  • Reach out to industry partners—Chances are your industry partners are in similar situations. Share information and work together with your industry regulators and influencers to move forward. Consider partnerships that could help your customers or employees.
  • Be a thought leader—While reputation may be defined by what others say about you, it is also defined by what a brand says. If it’s appropriate and authentic for your company, identify a business leader who can publicly address impacts of COVID-19 on your industry or customers.
  • Give back—On a similar note, give back to your community if you’re able to. A little bit of kindness can go a long way during these times.

Be Prepared

As everyone moves into life on the other side of the coronavirus pandemic, it’s important for companies to come out of it with their positive reputation intact and be known for being caring. Businesses seen responding positively to the COVID-19 pandemic are more likely to survive and thrive.

If an issue or crisis does arise, the quicker you respond to and fix any problems within your control, the better off you’ll be. For more information on managing your reputation after the coronavirus pandemic, contact Reith & Associates Insurance and Financial Services Limited today.