Steel City Re expands capabilities with Australian and Swiss company data
Reputation risk management and insurance firm Steel Steel City Re has added Australian and Swiss firms to its actuarial database. The 341 Australian firms and 162 Swiss firms boost the weekly global reputation risk surveillance to approximately 7,800 entities. Steel City Re said the expanded database will enable it to underwrite and insure companies in the new markets, and enhance its capabilities across its portfolio.
“Rapidly evolving environmental, social, and governance expectations have materially increased companies’ risk of serious consequences when stakeholders feel disappointed and angry,” said Steel City Re CEO Nir Kossovsky. “Our solutions help firms and their leadership avoid that scenario through assessment, underwriting and support for enterprise-wide reputation risk management activities – functions that are becoming increasingly challenging as companies need to satisfy diverse and expanding groups of stakeholders."
Steel City Re released last week a white paper titled Governance and Finance Professionals Can Protect Share Price After A Reputation Crisis showing how the severe impacts to stock price can be diminished – during and after a reputational crisis – through strategic pre-emptive steps that can be taken by governance, finance and risk management executives. Among the relevant findings were that the greater the percentage of intangible assets on companies’ balance sheets, the steeper the declines in stock price when crises occur.
The new Australian firms have an average market capitalisation of 4,400 of which 73 percent is intangible. The new Swiss firms have an average market capitalisation of 18,000 of which 62 percent is intangible.
Steel City Re employs principles of informational and behavioural economics to provide reputation risk management and insurance solutions. It pioneered the field of parametric reputation insurances using synthetic measures of reputational value. Steel City Re is an overseas advisor to the Lloyd’s of London syndicate, Tokio Marine Kiln.
Get all the latest re/insurance industry news with our daily newsletter - sign up here.
Chinese insurers' earnings will erode amid coronavirus outbreak – S&P Axa in advanced stages to sell Polish side of business Florida insurers brace for challenging risk/reward trade-off – AM Best The Hartford sees 2019 as ‘pivotal year’ as FY results show rise in net income Transverse Insurance Group acquires Arrowood Surplus Lines Insurance Company Markel appoints lead, trade credit, political risk and surety team MS Amlin appoints CEO of MS Amlin Asia Coronavirus epidemic impact on China’s non-life market likely to be limited MarketScout expands high net worth team with new recruit
RT Specialty appoints National Personal Lines Practice leaders
RMS makes Risk Data Open Standard (RDOS) publicly available
Already registered?
Login to your account
If you don't have a login or your access has expired, you will need to purchase a subscription to gain access to this article, including all our online content.
For more information on individual annual subscriptions for full paid access and corporate subscription options please contact us.
To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.
For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk
Editor's picks
Editor's picks
More articles
Copyright © intelligentinsurer.com 2024 | Headless Content Management with Blaze