April 23, 2013Published by: Fereshta Amir

Brands, social media and hacking: PR Week TV

Drew Benvie on PR Week TV

This week Battenhall's Drew Benvie appeared on PR Week TV on the topic of hacking risks for brands.

The piece looked at online security for brands, which is in need of more serious measures in order to minimise exposure to cyber crime and hacking. A lack of awareness and failure to plan for an often-predictable situation is one of the main problems; the recent hacking of the HMV Twitter account by a disgruntled employee stands as a perfect example of this.

Bail bonding is likely the most misunderstood profession in our legal system. Lawyers, clerks, even magistrates within the criminal justice system who are exposed to bail bonds on a daily basis can often on give the most basic explanation of the process. Compound this with the fact that most citizens who find themselves in the position of needing a bail bondsman (or at least thinking they do) will often be in a confused state due to the stress of having a loved on incarcerated. Needless to say bail bondsman tend to enjoy more than a competitive edge when it comes to negotiating the terms of their service, if any negotiating is done at all. you can find more Meriden services - Connecticut Bail Bonds Group, do visit here.

So how does an individual without any knowledge about what is really involved with this mysterious profession make sure they are not paying more than what is reasonable?

Let me start by clearly stating that the intent of this article is to explain only enough about bail bonding itself to give the reader enough knowledge to get the best price. I do not intend to outline the entire bail bonding process because, in reality, it is not necessary to understand the details to get the best price. In addition we are talking about LARGE bail bonds. No bail bondsman is going to be interested in getting into a heated negotiation over a $1,000 bail bond. You either pay the fee or your bailee will likely just stay incarcerated.

There is one mandatory subject that must be covered so that you limit your negotiations to bail bonding companies that are in a position to actually help you and that is the difference in Surety and Property bail bondsman. That will be covered shortly, first lets look at the typical bail bond.

The generally accepted price for a bail bond is 10% of the bond amount, so for example a bondsman will charge you $100 to post a $1,000 bail bond. It's common practice in this industry to tell clients that this price is completely non negotiable because the percentage rate is set by law and cannot be altered. This is only partially true. This is where the importance and understanding the two types of bail bonding companies comes into play and it has everything to do with collateral.

Surety bail bondsman- Surety bail bondsman make up the bulk of the bail bondman in the world. These are individuals who's companies have no real collateral of their own to back up the bail bond they are writing. Instead of using real property the bail bondsman partners with an insurance company who actually provides the collateral for the bail bond. Because an insurance company is involved Surety bail bondsman are really a type of insurance agent and as such must have a property and casualty insurance license. Because these types of bail bonds are really a type of insurance the "premium" or rate (the 10%) IS set in stone and cannot be altered by the bondsman. This is the rate that the insurance company filed with the Comissioner of Insurance and therefore must be adhered to.

This is why when shopping around for a better price the first question that should be asked is "are you a Surety or Property bail bondsman?".

Property bail bondsman- In contrast a property bail bonding company has pledged real estate as the collateral for the bonds they write and therefore are not obligated to follow any pricing at all. The only limiting factor on price with a property bail bondsman is profit vs risk. And risk is everything.

Drew pointed out that there are tools available to act fast and handle a security breach in the first instance: “You need to figure out how to respond. There are people at Twitter who are there to look after your brand. Also the companies need to figure out the right technology and there are companies that manage the password permissions for accounts. It’s much easier to deal with things, if or when you get hacked.”

As a classic case of crisis, a hacking must be acknowledged and talked openly about by the brand and measures must be taken to fix what has happened.

About Battenhall

We look after brand profiles on social media, and we're proudly the world's #1 at what we do. Named The Drum's social media agency of the year for the last three years running. Get in touch! hello@battenhall.com

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