Legal

March 6, 2019

“Steel City Re, a Pennsylvania-headquartered risk management company, has announced the launch of a new website that will act as a source for reputation risk essentials for corporate, governance, risk and regulatory professionals. For insights, visit steelcityre.com/category/newsworthy/. ‘Reputational risk is a concern for every company, organization, or individual in corporate leadership,’ said Nir Kossovsky, CEO …

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February 15, 2019

“A federal judge in Maryland said The Johns Hopkins University, Bristol-Myers Squibb Co and the Rockefeller Foundation must face a $1 billion lawsuit over their roles in a 1940s U.S. government experiment that infected hundreds of Guatemalans with syphilis…” “A federal judge in Maryland said The Johns Hopkins University, Bristol-Myers Squibb Co and the Rockefeller …

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February 13, 2019

“I permit myself to say that I’ve perceived a bit of an inflated expectation,” (Pope) Francis said. “We need to deflate the expectations.” The four-day meeting — scheduled to begin Feb. 21 and to be attended by the heads of more than 100 national bishops’ conferences — marks the first time a pope has brought …

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October 27, 2018

Reputation value is measurable and therefore it is manageable and insurable. In an attempt to help companies manage and insure that value, Steel City Re has compiled this Solution Executive Summary . In fact, most companies still mistakenly confuse reputation with public opinion. It can be a very costly misunderstanding. The media amplifies the crisis …

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October 1, 2018

However, since 2014, the American Law Institute has been developing a framework titled “Compliance, Enforcement, and Risk Management for Corporations, Nonprofits, and Other Organizations.” The work products remain a well-protected secret, but based on the type of intelligence Kremlin watchers used to gather to discern Soviet-era intentions, it can be expected that the ALI standards …

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June 26, 2018

This post explores the potential for change in the Caremark standard in light of the current intersection of business and social, political and cultural issues. Companies and boards have traditionally viewed the risk of liability under Caremark as being primarily a compliance issue; a well-designed and administered compliance function should bubble up to directors the …

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May 23, 2018

“in the event that the reputation…provides trust to society or the consumer, the parent company is liable for the trust created by utilization of this reputation”. Reputation risk is the peril of economic or political damage from angry disappointed stakeholders when expectations are not met. Under Turkish law, “(T)he scope of the liability consists of …

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May 4, 2018

And while Facebook CEO Mark Zuckerberg seems to have dodged the bullets fired his way during a Congressional hearing last month (did you #deletefacebook ?), Cambridge Analytica’s leadership knew that, based on its actions and the cavalcade of accusations, neither their clients nor the public would ever “like” them again.” Last year, Steel City Re …

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August 7, 2017

The lack of objectivity on clawbacks also “makes the board vulnerable to alternative interpretations of how that concept is being executed,” he says. “That puts the relationship of the board with its stakeholders, including litigants and activists, at risk.” “The party being punished needs to understand clearly and objectively what the punishment is if punishment …

August 7, 2017 Read More