Innovation

March 1, 2024

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Reputation risk management is an efficient strategy for interconnected risk. “Risk interconnectivity — the interdependence of various risks, illustrating how one risk can affect or amplify others across systems — is of growing concern to global risk managers. […] Andrew Chung, litigation, arbitration and investigations partner at Linklaters, said the key enterprise risks that are top of mind for clients today are interconnected. He explained: “We are seeing how risks across financial crime, cyber, ESG and energy transition, digital transformation and AI, and geopolitics including supply chain and sanctions all have common elements and data, so now require an enterprise-wide and holistic lens more than ever, to properly manage the risks.”

November 14, 2023

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Tolerable Risk podcast. 🔊 My guest is Nir Kossovsky, CEO of Steel City Re and an expert in the area of reputational risk management. Nir has the most interesting background which gives him multiple perspectives on the topic of reputational risk. During the episode, Nir and I discuss: 👀 What "agitation" and "behavior perils" are and why you should be aware of them 🤔 Why perception is as important (if not more!) than reality 💰 How taking an active approach to reputational risk management can help you with fundraising 🦁 And how it all starts with courage ✅ Nir also discusses how the "Big Six" - Ethics, Innovation, Safety, Security, Sustainability, and Quality - are the best place to begin.

Tolerable Risk podcast. 🔊 My guest is Nir Kossovsky, CEO of Steel City Re and an expert in the area of reputational risk management. Nir has the most interesting background which gives him multiple perspectives on the topic of reputational risk.

During the episode, Nir and I discuss:

👀 What “agitation” and “behavior perils” are and why you should be aware of them
🤔 Why perception is as important (if not more!) than reality
💰 How taking an active approach to reputational risk management can help you with fundraising
🦁 And how it all starts with courage

✅ Nir also discusses how the “Big Six” – Ethics, Innovation, Safety, Security, Sustainability, and Quality – are the best place to begin.

October 11, 2023

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Steel City Re Intelligence Unit Briefing: What derailed the ESG movement & what boards expect from risk management in the aftermath.

Steel City Re CEO and former Los Angeles County deputy coroner on what derailed the ESG movement & what boards expect from risk management in the aftermath.

September 26, 2023

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In a world of polycrisis, […] risk managers need to… market the elevated quality of their risk management processes.

In a world of polycrisis, […] risk managers need to… market the elevated quality of their risk management processes. The author thanks for their contributions to this article:
Courtney Davis Curtis, University of Chicago; Deyna Feng, Cummins, Inc.; Mary C. Friedl, Redbox; Kathleen A. Graham, The HQ Companies; Chris Hammond, Stepan; Enya He, Blu Clarity PBC; Carnell R. Jones, Trinitas Ventures; Christy Kaufman, Zillow Group; John C. Kline, Discover Financial Services; Manuel Padilla, MacAndrews & Forbes Incorporated; Soubhagya Parija, FirstEnergy and New York Power Authority; Kristen Peed, CBIZ; Theresa Severson, Kite Realty Group; Seung Yoo, Regal Rexnord Corporation; and Denise Williamee, Steel City Re.

September 11, 2023

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A new generation of risk managers trained specifically in the role and with a deep understanding of risk and risk transfer is reevaluating how they use insurance, increasingly preferring to manage and self-insure their own risks instead of relying on the open market. […] “We reinsure captives not to transfer the bulk of the risk, which is essentially equity risk from a capital perspective, but for the strategic purposes of affirming the quality of risk management.

A new generation of risk managers trained specifically in the role and with a deep understanding of risk and risk transfer is reevaluating how they use insurance, increasingly preferring to manage and self-insure their own risks instead of relying on the open market. […] “We reinsure captives not to transfer the bulk of the risk, which is essentially equity risk from a capital perspective, but for the strategic purposes of affirming the quality of risk management.

November 5, 2022

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The reputation premium-seeking RepuSPX is out-performing the S&P500 Index by 393.55%

”The reputation premium-seeking RepuSPX is out-performing the S&P500 Index by 393.55%.”

Steel City Re’s reputation metrics help demonstrate effective risk management and dutiful governance over mission-critical ESG.

Is insurance-authentication in your risk strategy?

October 29, 2022

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Shockingly, Steel City Re’s Illustrated Guide to Reputation Risk Management, a cocktail book, is not on The Economist’s list

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.

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