Abstract
The power of the media has become a parameter for business success in recent years, as media reality – the image of reality that is created by the media – has become a key factor influencing all of a company's stakeholders. These include customers, suppliers, employees, politicians, regulators and the general public. Based on a long-term analysis of German media coverage (1998–2006) and an international comparative analysis of media coverage in the U.K., France, Spain, Italy, Austria, the U.S. and Asia (2004/2005), the following article outlines the changing reputational risk environment regarding the insurance industry. This analysis shows why companies must take a proactive stance on corporate communications. This is confirmed by the experience of Media Tenor, an international media research and consulting institute and Perception Partners Inc., a consulting firm specializing in reputational risk.
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