“(M)any bystanders, engaged or enraged …were troubled by the financial connection to SoulCycle and Equinox and a president whose policies they do not support. […] ‘If people didn’t know Ross was a Trump supporter, and are now finding out, they have an opportunity to decide how to respond to the new information.’ If they say ‘This is not O.K.,’ that’s their right. If they say, ‘This doesn’t bother me,’ then that’s great, too.’ And if customers do decide it’s not O.K., New York-area cardio enthusiasts will have an affordable alternative this weekend. The chief executive of the New York Sports Club fitness chain announced his facilities will waive fees for people switching gyms.”New York Times
August 11, 2019
“Discovering something about a company, it’s like discovering your boyfriend has been cheating on you for three years.”
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Reputation risk is the peril of economic harm from angry disappointed stakeholders.
For a broader view of reputation risk, discover additional articles by Steel City Re here, mentions of Steel City Re here, and comments on newsworthy topics by Steel City Re here. To read an abstracted summary of reputation risk, see below.
Risk governance and management, risk financing in insurance captives, and risk transfer through reputation insurances comprise the constituent elements of a comprehensive enterprise reputation risk solution.
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