News and Commentary – Steel City Re

December 2, 2023

CFOs, CLOs, CMOs, Consumer Goods & Services, D&Os, Quality, Safety, Transportation

Southwest Airlines reputation crisis. At crisis day 340, Southwest equity is under performing the S&P500 index by 45.5%. Steel City Re’ Resilience Monitor warned that an operational failure was likely to trigger a reputation crisis.

November 24, 2023

D&Os, ESG/Social Responsibility, Geopolitics, Governance, Parametric ESG insurance, Parametric Reputation Insurance

“Over the course of four days at NACD Summit 2023, speakers pushed nearly 1,500 in-person and virtual attendees to think about new approaches and ways of thinking about their roles as directors in a world of crisis. […] One area that is an emerging risk in today’s environment is a company’s reputation. ‘We failed to predict that trust could be a target, just like information systems, and that there are entities out there that want you to diminish trust in our institutions…’”

November 14, 2023

Education, ESG/Social Responsibility, Governance, Health, Innovation, Parametric ESG insurance, Parametric Reputation Insurance

Tolerable Risk podcast. 🔊 My guest is Nir Kossovsky, CEO of Steel City Re and an expert in the area of reputational risk management. Nir has the most interesting background which gives him multiple perspectives on the topic of reputational risk.

During the episode, Nir and I discuss:

👀 What “agitation” and “behavior perils” are and why you should be aware of them
🤔 Why perception is as important (if not more!) than reality
💰 How taking an active approach to reputational risk management can help you with fundraising
🦁 And how it all starts with courage

✅ Nir also discusses how the “Big Six” – Ethics, Innovation, Safety, Security, Sustainability, and Quality – are the best place to begin.

November 10, 2023

CFOs, Parametric ESG insurance, Parametric Reputation Insurance

Innovative solutions for underwriting “reputation risk; e.g., parametric modeling of enterprise value impairment for an outcome trigger.

Chicago, 13-13 2-23. Innovative solutions for underwriting “reputation risk; e.g., parametric modeling of enterprise value impairment for an outcome trigger.

November 7, 2023

CLOs, CMOs, ESG/Social Responsibility, Finance, Governance

Reputational risk from $1.5 Trillion ESG debt. Bankers servicing one of the world’s biggest ESG debt markets are now actively seeking legal protections to guard against the potential greenwashing allegations that may be ahead. […] Lawyers advising SLL bankers say the reputational risks associated with mislabeling such products are now too big to ignore.

October 16, 2023

CLOs, Communications (Corp) & Media, Consumer Goods & Services, D&Os, Governance

Mitigate value-destroying legal risk. For Fox, Kossovsky said. “This new reputation at FOX Corporation, if it [is] indeed forming, is or will be value-destroying.”

Fox experienced a surge in reputational risk in the summer of 2021, according to reputational risk insurance provider Steel City Re’s resilience monitor. […] “Reputation risk is usually triggered by missed expectations,” Kossovsky said. “Arguably, stakeholders expected that Rupert Murdoch would once again pull the organization back from the brink after an ethically questionable strategy went sour. They’ve been disappointed.”

October 13, 2023

CFOs, Consumer Goods & Services, D&Os, Governance, Parametric Reputation Insurance, Transportation

In the past six months, more than $130 billion in shareholder value was lost by 39 banks due to reputational risk—the risk of unmet stakeholder expectations resulting in incinerated business value–flawed stakeholder intelligence.

October 11, 2023

Captives, CFOs, CLOs, CMOs, Commercial Services, Communications (Corp) & Media, Consumer Goods & Services, D&Os, Education, Energy & Mining, ESG/Social Responsibility, Ethics, Finance, Food, Geopolitics, Governance, Health, Innovation, Legal, Parametric ESG insurance, Parametric Reputation Insurance, Personal Cost, Quality, Safety, Security, Transportation, Utilities

Steel City Re Intelligence Unit Briefing: What derailed the ESG movement & what boards expect from risk management in the aftermath.

Steel City Re CEO and former Los Angeles County deputy coroner on what derailed the ESG movement & what boards expect from risk management in the aftermath.

October 10, 2023

CLOs, D&Os, Legal, Personal Cost, Utilities

CEO’s Conviction SEC Charges. “Boards should demand… intelligence on stakeholder expectations,” said Kossovsky.

October 6, 2023

CFOs, CLOs, CMOs, D&Os, ESG/Social Responsibility, Governance

A CEO and former Los Angeles County deputy coroner on what he feels derailed the ESG movement […] ESG died from toxicity and dysfunctionality. Culpable parties include investors, fund managers, corporate communicators and politicians.