Tiger Woods Creates New Insurance Policy

If you have no idea what is going on with Tiger Woods, then you must have been locked up in an Iraqi Prison. Because of his shinanigans, his corporate sponsors are dropping him faster than Jimmie Johnson racing around Daytona. Why are they doing this?

Copanies have images just like celeberties. When a company hires a celebery to be the face of the company and portray the company image, they expect that celeberty to maintain that image.

Tiger Woods was a perfect spokesperson for his top notch endorsemets like Accenture, Gillette, AT&T and Buick. Blue Chip companies using a Blue Chip athelete to promote their image. What happens when that Blue Chip spokesperson loses the Blue in his Chip? What does that do to the comapnies respective image? Can a image change of a spokeperson reduce revenues and company loyalty? You bet it can. What can companies do to recoup those losses?

Now they can buy insurance against such instances. Tiger Woods has created a new insurance poicy for large cap companies who rely on celeberties to promote their image. Celeberty goes in the tank, sponsor has no worry about loss to revenue. They can recoup the losses through transfering the risk to an insurance carrier.

Do we live in an ever changing society, or what? Thanks Tiger. You gave me another arrow in my insurance quiver.

Sean Kimbrough