Steel City Re


Reputation has significant economic value. Because reputation is a strategic corporate asset, Board Directors have a fiduciary duty to protect its value. Because reputation materially affects the main drivers of company profit and loss, executives have compelling incentives to manage its value. And because reputation directly impacts liquidity, sustainability and enterprise value, it is a governance imperative to monitor and assure its value.


Steel City Re is the leading provider of quantitative business solutions for corporate reputation value. Steel City Re’s solutions help companies use their reputations to discover fair market value, mitigate market volatility, blunt regulatory opprobrium, quell investor activism, and protect Directors and Officers from frivolous claims.

Reputational Value

Corporate reputation is the sum of stakeholder expectations of corporate performance. All things being equal, reputation value results from expectations of corporate behaviors associated with quality, ethics, safety, security, sustainability, and innovation.


Better reputations should lead to stakeholder behaviors that create greater enterprise value through shorter sales cycles, larger unit volumes, and customer willingness to accept premium product pricing; better terms from employees and vendors for services, and terms for capital from creditors and equity investors. Regulators should be less aggressive as well.


Reputation damage usually begins with an adverse operational event for which stakeholders deem management culpable. This assignation of responsibility creates going-forward reputational value losses, which are “costs of disappointment.” Disappointed stakeholders destroy value by becoming disloyal customers, disengaged employees, distracted suppliers, distrustful creditors, dismissive investors, and determined litigators & regulators. When stakeholders are disappointed, the additional costs will amplify the operational losses by 200 to 700%. This will register immediately in market cap, and in due course, in the P&L.


Steel City Re’s quantitative business solutions are grounded by the company’s proprietary Reputational Value Metrics, which are indexed measures of reputation value evidenced by the telltale signatures left by stakeholder behaviors. Steel City Re has been calculating these measures since December 31, 2001 from indications of expected stakeholder behaviors captured by a diversity of publicly accessible prediction markets. The database comprises more than 700 continuous weeks of calculations totaling nearly 5,000,000 unique values from around 7500 public companies per week.


Reputation Assurance

Steel City Re’s flagship product, Reputation Assurance, is a comprehensive enterprise solution strategically protecting against going-forward reputational value losses. The solution includes tools for managing enterprise reputation risk, funds for D & O personal reputation protection and funds for enterprise-wide loss indemnification. It is available only to companies meeting specific index-driven criteria evidencing above-average reputation control, a prerequisite which delivers “warranty-like” benefits to both the insured and its leadership team.


Reputation Assurance delivers these myriad benefits through two components: a quantitative 6 sigma-styled control system and an index-linked insurance product.


  1. The 6-sigma-styled controls generate timely actionable intelligence, during the policy period, to inform decision-makers in governance, operations and communications management. The controls mitigate both reputation risk and allegations of willful blindness through the quantitative record of reputational value.
  2. Reputational Value Insurance, which indemnifies a company for costs and extraordinary expenses arising from an adverse reputation event, delivers strategic value by affirming that the company’s governance, controls and risk management qualify it for insurance.
  3. Reputation Assurance pairs well with an insurance captive to better manage risk and build capital-efficient loss absorption capacity.

Return on Investment

Reputation Assurance transparently signals the benefits of better management to those who can appreciate and value it. It has been described by some as “a warranty on governance,” and by others as “goodwill insurance.” It helps stakeholders recognize, appreciate and value a company’s reputation in a way that is far beyond what investor relations or public relations can do on their own.


Reputation Assurance provides a spectrum of value by delivering on imperatives that are not addressed by reputation management, brand management, reputation protection strategies, or any D&O liability solutions currently in effect:


  1. Board-level exculpation of directors and officers not addressed by liability insurances
  2. CEO’s (and IR’s) need to signal risk-related value the way companies presently signal value with share buybacks and dividends
  3. A demonstrable ROI
  4. Enterprise Risk Manager’s need for unifying controls on an enterprise basis, and
  5. Insurance Risk groups need for reputation risk mitigation and loss absorption when it is needed

About Us

Steel City Re is a Pittsburgh, PA-headquartered leader in corporate reputation measurement and risk management. Operating also from New York, Kansas City, and London, Steel City Re’s Reputational Value Metrics are integral to the company’s reputation assurance solutions. In addition to enabling diverse reputation governance, control, and risk transfer solutions for companies, their directors and officers, and their supply chains, these metrics empower third-party investment strategies.


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Robert Rittereiser

Chairman of the Board

Mr. Rittereiser is a principal with Guidepost Partners, a governance and compliance advisory firm. He is also Chairman of Bellrock Controls, a health information technology company. Previously, Mr. Rittereiser was Chief Financial Officer and Chief Administrative Officer of Merrill Lynch & Co., President and CEO of EF Hutton & Co., and Chairman and CEO of Gruntal Financial, LLC. In addition to other corporate directorships, Mr. Rittereiser has served as an Industry Director for the Depository Trust Co., The National Securities Clearing Corp., and the Chicago Board of Options Exchange, and as a Trustee of the DBL Liquidating Trust.

Nir Kossovsky

CEO and Director

Dr. Nir Kossovsky, co-founder of Steel City Re, is an authority on business process risk and reputational value and holds more than a dozen patents, including Reputational Value Metrics. Previously, he served on the boards of Patent & License Exchange and Littlearth, Inc.; was a consultant to the FDA’s medical device advisory panels; and is featured in case studies from Harvard and Darden Schools of Business. He is currently a Trustee of Excela Health Systems, a community-based health care provider and executive secretary of the Intangible Asset Finance Society.

William McGinty


Mr. McGinty is formerly Senior Managing Director of the NASDAQ Insurance Agency. He is currently with the ELS group, an insurance brokerage specializing in the needs of high net worth individuals. Previously, he served as a founding partner and President & COO of American Wholesale (currently operating as AMWINS), a national property & casualty and Employee Benefits Insurance firm. Bill also served in various senior management positions for the Sedgwick Group, including New York Regional COO and Director of US Office Operations.

Paul Liebman


Mr. Liebman is the Chief Compliance Officer and Director of University Compliance Services at The University of Texas at Austin, which is one of the largest public research universities in the world. Previously he held legal and compliance leadership roles at Exxon, Koch Industries and Dell. Mr. Liebman has been advocating for more than 25 years that a reputation for acting legally and ethically is a significant source of enterprise value. He is a recognized thought leader in the governance, risk and compliance (GRC) community, was elected an OCEG Fellow by his peers, and was named to the list of GRC Pioneers and Trailblazers by The National Law Journal.

Peter Gerken

Co-Founder and Senior Vice President

Mr. Gerken leads Steel City Re’s underwriting, broker relations and development services where he works with brokers, captive managers, as well as directly with senior risk and finance executives. Mr. Gerken has been in the commercial insurance industry as both an insurer and broker for 35 years. Over the past 15 years, Mr. Gerken has specialized in intellectual property, intangible asset, and reputation value solutions. Previously, Mr. Gerken was IP Practice Leader at Marsh. Mr. Gerken has an MBA in Management from Bernard Baruch College (CUNY), and holds the CPCU designation.

Contact Us

Steel City Re is the Overseas Specialty Broker/Advisor to syndicates comprising various underwriters at Lloyd’s and various insurance companies, on a Line Slip approach, led by Kiln Tokio Marine Group.

US Steel Tower
600 Grant Street
Suite 660
Pittsburgh, PA 15219-2703

Copyright © 2007-2017 Steel City Re. All rights reserved.


Underwritten by certain underwriters at Lloyd's and Kiln

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US Steel Tower
49th Floor, Suite IP
500 Grant Street
Pittsburgh, PA 15219-2502 USA