“Insurance options from firms like Steel City Re can shield companies in two ways. First, it helps protect short-term cash flows. ‘One part of our insurance is the instrumental value, which tells creditors that the short-term cash flow is protected because there is contingent capital. This improves bond ratings and risk profiles, which raises your …
“If a company can point out that a third party like us has affirmed their reputation risk management process and has taken their risk, the board has a simple, credible and convincing story to tell regulators that it is doing a good job.” Commercial Risk March 15, 2019 “Our product helps to separate the board …
“Steel City Re, a Pennsylvania-headquartered risk management company, has announced the launch of a new website that will act as a source for reputation risk essentials for corporate, governance, risk and regulatory professionals. For insights, visit steelcityre.com/category/newsworthy/. ‘Reputational risk is a concern for every company, organization, or individual in corporate leadership,’ said Nir Kossovsky, CEO …
“The lasting effect on Nike will be determined by consumers and investors. Some of the indicators for the scale of the impact could be the extent of movement in equity value, credit default swap prices and bond prices over time, Mr. Kossovsky said. Nike shares fell 1% to $83.95 on Thursday. “The bond guys, they …
While Steel City Re, for example, offers parametric policies, which pay a pre-agreed sum upon specific triggers linked to reputation metrics being met, AIG’s product is primarily designed to assist with crisis management (though it did recently update the policy to include an income protection feature). “The greatest challenge for the industry in quantifying reputational …
“As reputational risk grows as a focus among the risk management community, the insurance world is being urged to respond with solutions.” November 3, 2018Corporate Risk and Insurance “Management should also consider whether (corporate reputation insurance) can be useful as part of the strategy for mitigating risk Reputation insurance: indemnification affirming trust and reducing economic …
“As more consumers tie their values to products they purchase and the companies they work for, businesses will be forced to take a deeper look at their cultures and how they are managing relationships with stakeholders.” November 2, 2018Wall Street Journal “(Kossovsky) noted that more companies are recognizing reputation risks as material and disclosing them …
“Employment risk issues…really should be on risk managers’ agendas and boards’ agendas.” November 1, 2018Corporate Risk and Insurance “The idea(‘s) emerging…(that) enterprise risk management is an inherent good.” Reputation risk management: mitigating both disappointment and noxious media. Reputations are valuable strategic intangible assets. Threats to these assets⏤ enterprise reputation risks, often mislabeled “brand risks” ⏤ …
“’By not laying out the strategy for mitigating (#reputation) #risk, they’re effectively creating an expectations gap – the risk,’” CEO Nir Kossovsky told Insurance Business America. “Over that time, the awareness of the notion that political, economic, and social issues have bearing on a company’s economic performance became progressively better appreciated by companies and, of …
“Even companies that attain the best reputation in the eyes of stakeholders could” tell regulators, bond raters and equity markets a better risk story with insurance. July 24, 2018Agenda Week “Despite the value of corporate reputation, Kossovsky says it’s not clear that high-reputation companies are properly measuring, managing or mitigating their risks.” Reputation risk: The …