This is an interesting alternative to Mr. Pawterson, but with a somewhat smaller use case. It operates exactly like Improvised Shield but for Horror instead of Damage.

It’s best for the oldest survivors of the game: Wendy and Pete. They need fodder to discard, and this will be a staple, along with Glimmer of Hope.

Also, this plays well with the suite of new assets from the Drowned City cycle that permit you to discard to enhance actions: Anchor Chain, Hand Hook, Nautical Charts, and Lawrence Carlisle. Not to mention events like "Catch!", Act of Desperation, or Unconventional Method.

Obviously, a deck with those cards and an investigator who has an innate ability to discard has more opportunities to leverage this theme.