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.

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