January 6, 2024
Southwest Airlines reputation crisis. At crisis day 375, Southwest equity is under performing the S&P500 index by 41.4%. Steel City Re’ Resilience Monitor warned that an operational failure was likely to trigger a reputation crisis.
Enterprise
December 12, 2023
Environmental issue? Investors scrutinizing! According to Kossovsky, shareholders seem most concerned about the impact of fines and other costs, but, in the long run, usually don’t expect environmental incidents to materially impair revenue.
November 24, 2023
![“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…’”](https://steelcityre.com/wp-content/uploads/2023/11/20231122b-Steel-City-Re-1.jpg)
“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
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.
October 13, 2023
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 6, 2023
![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.](https://steelcityre.com/wp-content/uploads/2023/10/20231006-Steel-City-Re.jpg)
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.
September 26, 2023
![In a world of polycrisis, […] risk managers need to… market the elevated quality of their risk management processes.](https://steelcityre.com/wp-content/uploads/2023/09/20230926-Steel-City-Re.jpg)
In a world of polycrisis, […] risk managers need to… market the elevated quality of their risk management processes. The author thanks for their contributions to this article:
Courtney Davis Curtis, University of Chicago; Deyna Feng, Cummins, Inc.; Mary C. Friedl, Redbox; Kathleen A. Graham, The HQ Companies; Chris Hammond, Stepan; Enya He, Blu Clarity PBC; Carnell R. Jones, Trinitas Ventures; Christy Kaufman, Zillow Group; John C. Kline, Discover Financial Services; Manuel Padilla, MacAndrews & Forbes Incorporated; Soubhagya Parija, FirstEnergy and New York Power Authority; Kristen Peed, CBIZ; Theresa Severson, Kite Realty Group; Seung Yoo, Regal Rexnord Corporation; and Denise Williamee, Steel City Re.
September 11, 2023
![A new generation of risk managers trained specifically in the role and with a deep understanding of risk and risk transfer is reevaluating how they use insurance, increasingly preferring to manage and self-insure their own risks instead of relying on the open market. […] “We reinsure captives not to transfer the bulk of the risk, which is essentially equity risk from a capital perspective, but for the strategic purposes of affirming the quality of risk management.](https://steelcityre.com/wp-content/uploads/2023/09/20230911-Steel-City-Re.jpg)
A new generation of risk managers trained specifically in the role and with a deep understanding of risk and risk transfer is reevaluating how they use insurance, increasingly preferring to manage and self-insure their own risks instead of relying on the open market. […] “We reinsure captives not to transfer the bulk of the risk, which is essentially equity risk from a capital perspective, but for the strategic purposes of affirming the quality of risk management.
September 3, 2023
The industry saw its biggest decline in sentiment since 2018, according to American Banker’s annual reputation survey, with regional banks accounting for the bulk of this deterioration. […] the findings were a “powerful” showcase of how vulnerable banks’ reputations are to periods of crisis.
August 17, 2023
Backlash Over AI Work. Companies can mitigate the risk of backlash by encouraging collaboration between IT, enterprise risk management and communications within the organization, as well as getting the board involved in overseeing the risk management process, said Steel City Re’s Kossovsky.