Strategic Risk Magazine's Editor Jessica Reid connected with experts this week on the VW emissions scandal. Click on the article to hear USQ Alumnus and reputation expert Leesa Soulodre on whether VW can recover from these events, the wider implications this has for industry as the estimated losses hit USD10B and learn 6 steps you can take for your firm to effectively handle their reputation risks.
"Many firms in the automotive industry are accustomed to crisis: last year Toyota recalled more than 6.5 million cars over steering and seat problems; General Motors continues to face million-dollar lawsuits following its faulty ignition switches; and Honda is under investigation from the regulators about its airbags that could fail to deploy in a crash. But the latest automotive crisis to hit headlines is different. Volkswagen has admitted to falsifying US pollution tests on 500,000 diesel engine vehicles, by installing software (‘defeat devices’) to make them appear cleaner than they were when being tested. Once on the road, the cars would pump out as much as 40 times the allowed level of nitrogen oxides."
So what are the implications for the company's reputation, insurance and crisis management plans? Experts weigh in on the case here: http://www.strategic-risk-global.com/volkswagen-emissions-scandal-has-vast-reputation-and-insurance-implications/1415689.article"
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