A strategic solution comprises assessment, implementation, and communication. Assessment yields suggested upgrades to the reputation risk management apparatus, quantified loss financing strategies through captives, and strategic options for risk transfer. Implementation delivers concrete enhancements to the risk management apparatus. Insurances authentically substantiate the communications.
Quantitative, bespoke, and objectively selective
Steel City Re’s services help manage expectations, mitigate anger and disappointment, and parametrically indemnify fortuitous losses.
Steel City Re enterprise services provide clients with enterprise-wide frameworks for assessing and quantifying their reputational risks and their potential corporate and personal impacts, and for assessing and quantifying the benefits of using reputation insurance products to manage and mitigate those risks.
Strategic reputation risk management best practices call for towers of risk financing for named perils and layers of risk retention and transfer for ranges of losses. It is what stakeholders expect.
A typical solution for reputation value loss may be anchored by a captive for risk retention and insurance policies led by the Lloyd’s syndicate, Tokio Marine Kiln, for risk transfer. All Steel City Re risk financing and transfer policies are triggered parametrically. Separate additional towers for non-damage business interruption, crisis management, and related losses can be readily integrated for a more robust financial solution.
In our social media-driven society that seems intent on personifying blame for corporate missteps, the anger, disappointment and loss of trust in reputation crises places directors and officers in cross hairs.
D&O coverage is insufficient to protect Directors and Officers against personal reputational damage caused in the court of public opinion – and costing them potentially millions of dollars in future lost income. Steel City Re has solutions for dutiful directors and officers.
Reputation is an enterprise risk management issue requiring enterprise-wide systems to protect it. Steel City Re has solutions for reputation risk governance and enterprise-wide reputation risk management that empowers a firm’s risk management apparatus with policies, practices, procedures, communication tools, and indemnification instruments.