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.
Parametric insurance grows in importance. In a session at the Cayman Captive Conference 2022 Eddie Brooks, associate director of Alternative Risk Transfer Solutions at WTW, looked at how index-based, or parametric, insurance has emerged over the past two decades as a risk transfer mechanism with particular application to emerging risks resulting from the climate and nature emergencies. A parametric insurance policy—one that is triggered and insures to model—makes ESG coverage possible.
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.
Booze you can use. Nearly as much history, culture and science can be found in cocktails as in cuisine. Do not be too put off by the theatre and skill on display in the modern, snazzy cocktail bar: the craft is approachable and can be learned by doing, starting with a few basic skills and guiding principles […] These are the books to banish … ignorance; to think analytically about all the components of cocktails, and thereby to readjust those proportions; to hone the techniques of the efficient (and occasionally theatrical) barkeep; and to get coupette-sized doses of all that history and cocktail culture.
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 …
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 …
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