‘Cancel culture’ insurance offers respite to panicking celebrities

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Celebrities and business executives worried about being “cancelled” for their words or actions will be able to take out insurance against the consequences of being caught up in a social media-fueled culture war.

The policy is being produced by Sampir Risk, a Lloyd’s of London-backed independent underwriting agency that offers products focused on crime, hostage-taking and kidnapping risks, along with London-based crisis communications group Borkowski PR.

The cover provided by the insurance policy includes crisis management communication services specifically designed to protect individuals from cancellation culture and reduce reputational damage due to negative media and social media coverage.

“Sharing or liking a tweet can bring the whole world down on you,” says Mark Borkowski, a veteran public relations boss who draws policy terms with the services Risk Partners Reputation.

“There are many concerned people. The cancel button is the new guillotine [and] A mistake is your epitaph. It’s very easy to take a stand on things. . . without thinking “

Social media can create an immediate backlash when celebrities, executives, and sports stars are often perceived to cross voluntary lines, causing lasting harm and financial cost.

“Social media turbo charges any reaction and spreads it around the world in seconds,” Borkowski said. He added that “in an era where a single tweet can erase a lifetime of credibility — think . . . Chrissy Teigen’s dismissal of resurgent messages — [this] Insurance against digital volatility. “

There are existing reputable crisis insurance products, but Borkowski says it will “bridge the gap” in corporate policies by focusing on personal protection for celebrities, executives, athletes and high-net-worth individuals as well as taking preventive measures.

The policy includes research, analysis, monitoring and training to pre-empt potential reputational issues, as well as a 24/7 hotline and 60-day communication tasks to manage and respond to negative media and social media coverage.

“This includes ‘cancellation culture’ and ‘culture war’ fallout, areas where corporations cannot or will not provide private cover,” Borkowski said.

The policy will also cover addressing modern dangers such as misinformation and deepfakes and expand to related risks such as extortion, blackmail and family concerns.

Borkowski said the policy was not designed to target people who broke the law or who were guilty of wrongdoing, but was aimed at people concerned about their words or actions being taken out of context or with the wrong “spin.”

Borkowski also said that “bot farms” have sprung up to quickly spread fake information about people intentionally to get attention from someone who is hurt or attention.