RIMScast: Reputational Risk with Nir Kossovsky

Reputational Risk with Nir Kossovsky

Oct 2, 2018

Welcome to the fourth episode of RIMScast. Your host is Justin Smulison, Business Content Writer at RIMS, the Risk and Insurance Management Society.

Today’s episode focuses on reputational risk. Justin is joined by Nir Kossovsky, the CEO of Steel City Re. He’s an authority on business, process risk, and reputational value. He’s been an industry-wide leader in the development of index measures of reputational value and actuarially sound underwriting methods that deter reputational attacks and protect companies and their leadership.

Justin and Nir talk about how Nir became involved in reputational risk, how Nir defines it, the circumstances of when a reputation crisis occurs, misconceptions about reputational risk, fraud risk, and all about his upcoming panel at RIMS ERM Conference.

Key Takeaways:

[:23] About today’s episode and guest.

[:32] Important upcoming RIMS events.

[1:18] More about today’s guest, Nir Kossovsky.

[2:05] How Nir became involved in reputational risk.

[4:23] Reputational risk as Nir defines it.

[4:56] The circumstances of when a reputation crisis occurs.

[5:27] A key takeaway for young, risk management professionals: external factors do not always influence a reputation.

[6:46] Does Nir find a lot of his clients believe the misconception that media drives reputation risk?

[8:27] About fraud risk, its similarities to reputational risk, and strategies to mitigate it.

[9:32] The complexities of reputational risk.

[11:06] About Nir’s panel at the upcoming RIMS ERM Conference.