Managing general agent Rokstone has launched a new contingency product. It offers cover to brands against financial loss and reputational damage in the event disgraced celebratory ambassadors can no longer represent the brand or be used in marketing and/or promotional campaigns. The product offers cover up to £5m for each individual death, disgrace or disablement risk.

David Boyle, portfolio manager for contingency at Rokstone, said: “Rokstone Contingency continues to innovate in response to gaps in the market. Disgrace cover isn’t new, but it’s ripe for innovation, and that’s what we intend to do. Forget high premium, high exclusion, low-limit policies, and instead think innovative data and talent backed underwriting and cover that’s relevant in today fast-moving entertainment world.”

Gavin Dollings, chief underwriting officer for Rokstone Commercial, added: “Doing business with celebrities can be both financially and reputationally costly, with numerous examples widely publicised across international and social media outlets. It’s a problem that’s not going to go away and yet it is an underserved area of the market. That’s about to change thanks to our industry experience and underwriting discipline.”