ESG/Social Responsibility

October 4, 2022

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Pay by ESG Performance Metrics. “Difficulties in boiling (ESG) down to a few performance indicators to link to pay are numerous, (said Nir Kossovsky).”

Pay by ESG Performance Metrics. While environmental, social and corporate governance (ESG)-linked pay and bonuses are increasingly popular in big businesses, the concept found a lack of support among two recent visitors to Intelligent Insurer’s hub for debate and discussion: Nir Kossovsky, head of Steel City Re, an insurance intermediary and risk advisor for reputation and ESG linked reputation risk; and GCY Associates’ founder Gerald Chen-Young, who specialises in institutional investment management, consulting and advice, and has worked with several boards on ESG issues.

September 27, 2022

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DEI and Reputation Risk. Companies can always buy insurance. Insurers like Steel City Re are developing creative ESG parametric products.

DEI – Diversity Equity and Inclusion Disappointment Risk “Really, what is needed is what we’re calling ESG-linked reputation insurance,” Kossovsky said. “ESG is all about setting expectations for better environmental stewardship, better social justice, more dutiful governance. The risk arises from some failure to understand stakeholder expectations — the failure to set those expectations, and …

September 27, 2022 Read More

September 19, 2022

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Risk velocity and complexity silver bullet. “The bottom line, said Kossovsky, is that firms… (should expect) that enterprise-level risks will pop up at a moment's notice.”

Silver Bullet for Increasing Risk Velocity and Complexity. During the first six months of 2022, risk velocity and complexity grew, according to a new report from Origami Risk […] Firms need […] to assess, prioritize and develop tactical risk mitigation plans — such as a reputation risk leadership committee — under an overarching strategic plan …

September 19, 2022 Read More

September 15, 2022

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Insurance Drives ESG Adoption. Insurance has long been an agent of social change.

Insurance Drives ESG Adoption. Insurance has long been an agent of social change. Some time ago, it was lighting rods and brick construction for property insurance. Earlier this year, it was gun safety. Today it is a range of ESG-linked process changes. “The high cost of settlements over police misconduct has led insurers to demand …

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September 14, 2022

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NACD Summit ESG Beast. Effective risk management and governance, validated by insurance, forestalls regulators, litigators, and activists.

NACD Summit ESG Beast. Effective risk management and governance of ethics, compliance, ESG, and reputation risks, validated by insurance, forestalls regulators, litigators, and activists. In this workshop, Steel City Re CEO Nir Kossovsky conveys the nuts & bolts of an enterprise reputation risk management apparatus, and the governance, leadership, controls and insurances therein. Directors will …

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September 13, 2022

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Road to reputation resilience. Combining the marketing, risk and legal forces will put companies in the best position to withstand today’s volatile social climate.

Road to Reputation Resilience. In this era of stakeholder capitalism, corporate engagement on controversial social issues, wars, pandemics, and vague or aspirational environmental, social and governance (ESG) goals driving investor decisions, “reputation management” is incomplete without “reputation risk management” and, increasingly, legal compliance. Marketers cannot do it alone. Click on the image above to read …

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September 12, 2022

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Reputation and ESG insurances are how boards can signal to investors and the courts (and regulators) that their governance processes are effective.

Ethics Compliance Management Governance. An effective management process for [ethics, compliance, ESG risk, reputation risk…] creates value with regulators. An effective governance process creates value with investors and the courts. Auditors’ reports on controls are how boards can signal to regulators that their management processes are effective. Reputation and ESG insurances are how boards can …

September 12, 2022 Read More

September 11, 2022

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“Demand for environmental, social and corporate governance (ESG)-reputational risk insurance is surging.”

Surging Demand for ESG Risk Insurance. Demand for environmental, social and corporate governance (ESG)-reputational risk insurance is surging, but, according to Nir Kossovsky (pictured), chief executive officer of Steel City Re, there is a lack of capital available. Parametric ESG-linked reputation insurance is as vital today as D&O insurance. Click on the image above to …

September 11, 2022 Read More

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