CEO Nir Kossovsky of AC client Steel City Re quoted in the Wall Street Journal article What Loss of Trust Costs Companies in Dollars and Cents. Excerpt:
The focus on reputation risk is not surprising, said Nir Kossovsky, the author of “Mission: Intangible: Managing Risk and Reputation to Create Enterprise Value.”
“The rage is greater, and amplification is greater, because of social media,” said Mr. Kossovsky said, who heads Steel City Re, a reputation insurance company that has its own index that estimates the economic impact of reputation risks.
He noted that more companies are recognizing reputation risks as material and disclosing them in their financials compared to a decade ago, according to his company’s research.