February 8, 2021

“McKinsey will have to pay almost $574m and has fired two partners as it announced a settlement of US states’ claims that its advice to pharmaceutical companies contributed to the deadly opioid crisis. Under a settlement announced on Thursday with the attorneys-general of 49 states, the District of Columbia and several US territories, the consultancy did not admit wrongdoing or liability.” An opportunity has been missed.

Financial Times
February 8, 2021

“’McKinsey still needed to set higher standards for itself and for its profession’, (Kevin Sneader, McKinsey’s global managing partner) said.”

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A reputation restoration strategy includes, but is not limited to, raising the bar industrywide.

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.

Risk governance and management, risk financing, and risk transfer through insurances comprise the constituent elements of a comprehensive enterprise reputation risk management solution.

What’s your strategy?