“Willis Towers Watson found that 86 percent of clients are concerned about loss of income and a reduced customer base due to reputational risk. […] Seven in ten (72 percent) report that risk management teams have at least some responsibility for the monitoring, measuring or management of reputational risk. Nearly the same proportion said that reputational risk is reported at the C-Suite (61 percent) or Board level (66 percent) within their organization. Almost eight in ten (80 percent) believe that the focus on reputational risk in their business will only increase in the coming five years. The majority of respondents highlighted that reputational risks could result in potentially crippling business outcomes for their organization such as loss of income (86 percent) and weakened human capital, because of their reduced ability to retain (62 percent) or attract (57 percent) talented employees.”
Continuity Central
January 24, 2021
“68% of clients surveyed have no framework in place for reputational risk.”
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Steel City Re has a strategic enterprise-wide framework for reputation risk management.
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Risk governance and management, risk financing, and risk transfer through insurances comprise the constituent elements of a comprehensive enterprise reputation risk management solution.
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