Newsworthy Archives – Steel City Re

October 29, 2022

Communications (Corp) & Media, ESG insurance, Innovation, Reputation Insurance

Shockingly, Steel City Re’s Illustrated Guide to Reputation Risk Management, a cocktail book, is not on The Economist’s list

Booze you can use. Nearly as much history, culture and science can be found in cocktails as in cuisine. Do not be too put off by the theatre and skill on display in the modern, snazzy cocktail bar: the craft is approachable and can be learned by doing, starting with a few basic skills and guiding principles […] These are the books to banish … ignorance; to think analytically about all the components of cocktails, and thereby to readjust those proportions; to hone the techniques of the efficient (and occasionally theatrical) barkeep; and to get coupette-sized doses of all that history and cocktail culture.

October 18, 2022

Capital Costs, Finance

Shifting expectations: bank run. A bank run in our model … is caused by a shift in expectations, which could depend on almost anything.

Shifting expectations: bank run. Douglas Diamond and Philip Dybvig won the Nobel Memorial Prize in economics this year for their work on (bank runs). “A bank run in our model,” they write, “is caused by a shift in expectations, which could depend on almost anything, consistent with the apparently irrational observed behavior of people running on banks.” “Almost anything” could include social media rumors, why not. […] “Every banker knows that if he has to prove that he is worthy of credit, however good may be his arguments, in fact his credit is gone.”

October 16, 2022

Geopolitics, Personal Cost

Reputation resilience | reputation loss. In politics as in business—authenticating one’s reputation is mission-critical.

Reputation resilience vs. reputation loss. (V)oters have a record of dumping UK governments that lose their reputation for economic competence, even at elections some years later. Truss faces a monumental struggle to convince her own MPs she is capable of rehabilitating her own and her party’s image, and of leading Britain forward. If they conclude she cannot — and some seem already to have made up their minds — they may move against her quickly.

October 13, 2022

Governance, Legal

Effective defense of oversight claim. An insurance-authenticated thoughtful and dutiful risk strategy over all that is mission-critical.

You can never completely prevent litigation over liability due to oversight issues. That being said, steps can be taken to help better defend against these suits, including successfully moving to dismiss, reducing settlement values even after an unsuccessful motion to dismiss, and perhaps even a successful defense at trial, if necessary.

October 5, 2022

Governance, Legal, Personal Cost

Oversight of Ethics Risk Management. Insurance can authenticate the effectiveness of a board’s reputation risk oversight.

Regardless of one’s moral compass, the practical risks of failing to uphold business ethics are very real, transcending any legal or regulatory requirements. A company’s most valuable asset may be its reputation, yet that asset appears nowhere on the company’s balance sheet. Board members’ oversight of risk management should therefore include reputational risk as a key element, which requires attention to business ethics throughout the company’s activities, both current and planned. This book provides excellent examples — good and bad — that will be instructive for board members in overseeing management of reputational risk.

October 2, 2022

ESG insurance, ESG/Social Responsibility, Governance, Reputation Insurance

Radical collaboration for sustainability strategy. Sustainability has to exist in organisations as a strategy, not just a buzzword.

Radical Collaboration for Sustainability Strategy There are many potential benefits lauded from a well-developed sustainable business strategy. Good for the people, good for the planet. Perhaps also good for reputation, risk management and revenue growth? Simply put, it is all of those things. However, if businesses only treat sustainability as a PR exercise and a …

October 2, 2022 Read More

September 6, 2022

Commercial Services, Consumer Goods & Services, Energy & Mining, ESG/Social Responsibility, Finance, Food, Governance, Health, Industrials & Technology, Transportation, Utilities

Chicago Risk Forum, 2022 aims to be the premier event for the Chicago RIMS Chapter | engaging, industry leading educational opportunities.

The Chicago Risk Forum, 2022 aims to be the premier event for the Chicago RIMS Chapter, partnering with our greater Midwest Risk Management and Insurance Community. The mission of CRF is to provide engaging, industry leading educational opportunities and the ability to network and build professional relationships within the Risk Management and Insurance industry. CRF …

September 6, 2022 Read More

September 5, 2022

Capital Costs, Personal Cost

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