DS Simon offers market insurance on services
NEW YORK: Broadcast PR firm DS Simon Productions has introduced Financial Crisis PR Project Insurance, a program that allows clients to pull their PR programs at a percentage of the contract price should the stock market tumble further.
Organizations signing on with DS Simon now have the option of paying a premium (about 10% of the project cost) on top of the cost of their PR programs to participate in the insurance program. DS Simon will record the three-month low of the Dow Jones Industrial Average (DJIA) at the time a company hires it. Then, if the Dow falls 1,500 points below that number, the insurance is triggered. Clients can opt out of their project, paying only the premium.
"Clearly these are unusual economic times that call for unusual solutions," said Doug Simon, president and CEO of DS Simon. "This is something that can give people a safety net if things really go sour."
The DJIA opened today at 8,561.19.
