Risk Strategy Authentication and Communication.If you oversee an effective reputation risk strategy process, but no one knows it, is it actually effective? This is a vital question boards of directors, senior executives, and risk professionals need to ask themselves in this era of enhanced regulatory enforcement. Building resilience requires a demonstrably effective, insurance-authenticated system.
In San Jose, Calif….on Jan. 1, the city will begin requiring gun owners to carry liability insurance to compensate victims harmed by the negligent or reckless use of a firearm. The behavioral economic properties of insurance have long successfully nudged social change.
ESG-related false advertising litigation. Since the onset of 2021, there have been multiple class actions filed in federal courts over greenwashing claims targeting companies from the retail industry, such as H&M and Allbirds, and food manufacturers, like Vital Farms. The statements attacked by consumers in these lawsuits varied due to the wide-ranging nature of the marketing techniques used by the companies, including the use of internal sustainability metrics as well as the reliance on benchmarks created by third parties.
Mitigating an expectation shift: An effective, thoughtful risk strategy. Of the many on offer, only our solution is quantitative, battle-tested, quality management-proven, and grounded in four Nobel Prize winning insights. The bottom line: mitigating costly reputation risk by targeting factors that would lead to a shift in expectations
Parametric insurance ESG authentication. Parametric insurance, which has long been popular in disaster recovery, is gaining steam as a proxy for proving the effectiveness of ESG programs. Nir Kossovsky and Denise Williamee of insurer Steel City Re explore details of this novel ESG solution. Insurance-based authentication — a regulatory lynchpin — is a recent innovation made possible by parametric insurance solutions.
Carnell and Nir are two of the three speakers who will be delivering the general session titled, “Mitigating the Hazards of ESG-Linked Enterprise Risk,” at the RIMS ERM Conference on November 11th at 11:30 am. This session will explore the value proposition of how to manage ERM to mitigate ESG-linked reputation risk strategically. It will focus on the cultural aspects of rounding up the collaborators from legal and communications and risk insurance. Two of every 3 directors prefer value-creation through an ESG-linked reputation strategy.
Climate-related Financial Risk As part of its work to better tackle climate-related financial risks, the CFTC is considering whether the offsets market is “susceptible to fraud and manipulation.” In their letter, the senators asked the CFTC to develop standards for offsets, investigate cases of potential fraud, and convene a working group to study the risks …
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.
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 and UL Solution’s Adrian Wain convey the nuts & bolts of a an effective reputation risk strategy comprising thoughtful risk management and …
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 …