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.
Steel City Re’s enterprise solutions provide frameworks for:
- Assessing and quantifying the client’s reputational risk-class perils and their potential impacts.
- Assessing and quantifying the benefits reputation insurance products to manage and mitigate risk.
- Facilitating an understanding among operational executives and governance professionals on how to best protect the firm and its board from the many perils of reputation risk.
A detailed Reputation ERM Roadmap that identifies managerial and governance exposures with suggested mitigation strategies for the entire enterprise risk management apparatus (governance, leadership, controls and insurances). The report 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 enable the client’s risk management team in relaying the essentials and benefits of reputation risk management.
- An application for insurance underwriting for risk financing and risk transfer.
The second deliverable is a comprehensive presentation as well as Q & A discussion with operational and governance professionals whose areas of responsibilities are within the scope of the report’s findings.
These executives are (typically) placed with the company’s departments of risk, law, communications, investor relations, finance, marketing, communications, diversity, social responsibility and human resources.
The purpose of the presentation is to raise the profile of the enterprise risk management apparatus (governance, leadership, controls, and insurances) and increase the team’s situational awareness of external changes that may create reputational risks that are cultural climate-related. The composition, timing and scope of the presentation and discussion are tailored collaboratively with the client.
What’s your strategy?
Reputational risk is a concern for every company, organization or individual in corporate leadership. Let us help develop your strategy for reputational resilience.