Team & Culture

Team

Steel City Re was co-founded by Nir Kossovsky, an authority on business process risk and reputational value, and Peter J. Gerken, a seasoned insurance industry professional specializing in captives and intangible asset risk.

Dr. Kossovsky, our CEO, has been a leader in the development of indexed measures of reputational value and actuarially sound underwriting methods that deter reputational attacks and protect companies and their leadership. He is a frequent lecturer, has written hundreds of articles and four books, and is often called upon by the media for expert analysis of reputational crises.

Dr. Kossovsky has degrees in philosophy of science, business, and medicine, and certificates in colloid chemistry and national security decision making. He served as a Captain in the US Navy Reserves and, early in his career, was a tenured faculty member at UCLA. He holds a number of patents in applied surface chemistry and medical sciences.

Peter J. Gerken, a certified property and casualty underwriter is our Senior Vice President, Risk Transfer Agency and Insurance. Mr. Gerken heads broker relations and client development, working with Brokers, Captive Managers, and Risk Managers. He jointly heads underwriting. A Vietnam veteran, Mr. Gerken has been in commercial insurance for some 40 years both on the underwriting as well as the broking sides of the business. Holding an MBA in Management, he has specialized in Intellectual Property, and Intangible Assets including reputation for many years. Mr. Gerken formerly headed the Intellectual Property practice at Marsh.

Culture

Culture—the ideas, beliefs, and practices of an organization—guide governance decisions ranging from executive selection through strategy, budgeting, and risk management. Our practices are powered by the ideas and beliefs shared below.

We walk our talk, adhering to the same values that build reputational strength and resilience among our clients. We believe that the majority of stakeholders – customers, employees, vendors & suppliers, creditors, investors, regulators – value ethics, quality, safety, security, sustainability, and innovation.

“A man I do not trust could not get money from me on all the bonds in Christendom.”

John Pierpoint Morgan

We believe that process controls—auditable reliable repeatable methods—are necessary for solutions that depend on trust to be effective because, in contrast to hope, it provides a rational basis for expectation fulfillment. And we believe that strategic intangible assets – reputation – provide maximum benefit when stakeholders are given the opportunity to appreciate and value them.

We define the elements of reputation and the services we provide this way:

  • Reputational Value: going forward economic benefit of stakeholder expectations.
  • Reputational Risk: peril of economic loss from angry disappointed stakeholders.
  • Reputational Crisis: disappointment, diminished trust, and economic losses.
  • Reputation Risk Management: concurrent mitigation of false expectations, negative experiences, and noxious media amplification.
  • Reputation Insurance: parametric indemnification and lessening of the expected economic losses from a crisis.

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