Many corporate hands create the expectations and potential failures that underpin reputation risk. Steel City Re’s services deliver enterprise-wide frameworks for assessing and quantifying reputational risks and potential corporate and personal impacts, and for estimating the benefits of using reputation insurance products to manage and mitigate those risks.
Advisory Business Purpose
Steel City Re’s enterprise solutions provide frameworks for:
- Assessing and quantifying the client’s reputational risks and their potential impacts.
- Assessing and quantifying the benefits of utilizing reputation insurance products to manage and mitigate that risk.
- Stimulating discussion among operational executives on principles for mitigating reputation risk.
The first is a high-level Reputation ERM Roadmap that identifies managerial and governance exposures and suggests mitigation strategies. Because the form of the report is similar to the General Application for Reputation Risk Financing, the deliverable is at once:
- A roadmap for the reputation risk aspect of ERM.
- A path to D&O liability exculpation under an expansive reading of Caremark.
- A simple communication tool that will help the client’s risk management team explain to others the essentials and benefits of reputation risk management.
- An application for insurance underwriting for risk financing and risk transfer.
The second deliverable is a presentation and discussion with operational executives whose areas of responsibilities are touched by the report’s findings.
Such individuals are typically within a company’s departments of risk, law, communications, investor relations, finance, marketing, communications, diversity, social responsibility and human resources.
The purpose is to both raise the profile of the enterprise risk management apparatus and increase the team’s situational awareness of external changes that may create reputational risk tornados of the cultural climate change kind. The composition, timing and scope of the presentation and discussion are developed in collaboration with client.
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Reputational risk is a concern for every company, organization or individual in corporate leadership. Let us help develop your strategy for reputational resilience.