Steel City Re


The rules have changed. In the age of weaponized social media, reputation risk—the threat of economic damage from angry disappointed stakeholders—presents an existential threat to companies and their leadership. To protect brands, market cap, margins and income—as well as executives and directors personally—companies need to employ strategic insurance-based defenses pre-emptively in the court of public opinion.


Steel City Re evaluates, mitigates, and insures corporate and executive reputation risk. It is the leading global authority on the interplay between capital, stakeholder expectations, signaling, operations, and risk management; and Reputation Assurance from Steel City Re is the only strategic solution available today to both mitigate presumed culpability and indemnify going-forward losses.


Reputation management is a strategy of necessity. Reputation Assurance is the risk solution of choice. Steel City Re provides reputation management advisory services, risk management services, and reputation risk transfer solutions. These services support a market that has seen losses linked to reputational damage increase by 461% between 2011 and 2016.

Reputational Value

Managing reputation and its risk is a 21st century strategic imperative because the losses resulting from disloyal customers, disengaged employees, distracted suppliers, distrustful creditors, dismissive investors, determined litigators and regulators can hobble a company and damage its leadership team. Steel City Re understands this challenge and its nuances, and how they create opportunities for value creation.


They also create needs for value protection. The need for reputation insurance arises out of a recognition that typical forms of business coverage, including D&O coverage, do nothing to protect companies, directors and executives from these losses nor, critically, prevent their associated excoriation in the court of public opinion. Nor do typical commercial insurance solutions provide a tool for managing emotions, measuring financial impacts objectively and indemnifying going forward losses.



Reputation Assurance

Over the past 15 years, Steel City Re has created, monitored, and indexed measures of reputation value—aka reputational health—evidenced by the telltale signatures left by stakeholders. We call these company- specific parameters “Reputational Value Metrics.” Steel City Re uses these measures to help companies understand and manage their reputations. Steel City Re’s Reputation Assurance leverages the objectivity and auditability of these parameters to qualify clients for risk transfer, optimize risk financing, and trigger indemnification. Coupled with selective underwriting, these parameters create expressive value in the Reputation Assurance policies that, like Federal Deposit insurance or a warranty, signal to a wide range of stakeholders both quality and value in a client’s leadership, governance and risk management practices.


Indemnification Triggers

Transferring reputation risk can be challenging. Reputation Assurance is a parametric solution that makes transfer simple to understand and credible with stakeholders. As with all other parametric insurances, indemnification is triggered by a published value (parameter) not directly linked to the magnitude of an insured’s loss. For example, crop-loss insurance indemnifications may be triggered by elevations in temperature or shortfall in rainfall; property-loss indemnification may be triggered by the magnitude of an earthquake or velocity of wind. Reputation Assurance is triggered by a decrease in an insured’s Reputational Value Metric.


Reputation Assurance and Captives

When risk transfer through Steel City Re’s underwriters is not sufficient in terms of capacity or not possible due to various technical considerations, captive insurance solutions are useful alternative strategic instruments. Regulatory authorities require companies and their captive insurers to show an actuarially sound basis for pricing, an underwriting process for accepting the risk and clear indemnification terms for when events trigger claims. Steel City Re’s robust actuarial data base provides sound underwriting and pricing support while signaling to regulators, like a “beware of dog” lawn sign, both quality and value in a client’s risk management strategy.


Return on Investment

Reputation risk management can increase, protect and restore reputation value when stakeholders appreciate a company’s focus. Reputation Assurance helps stakeholders reach that appreciation.


Reputation Assurance transparently signals the benefits of better management in terms that are simple to understand and completely credible. 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.


In terms of conventional measures of loss, Reputation Assurance may be first triggered when market cap losses are as little as 2%, but on average is triggered when market cap losses are 24%. It may be first triggered when anticipated losses in sales are as little as 4% but on average is triggered by anticipated losses in sales of 13%. It also may be first triggered when anticipated losses in net income are as little as 6%, but on average is triggered by anticipated losses in net income of 12%.


The technical details of indemnification are outlined in the policy form.


About Us

Steel City Re is a Pittsburgh, PA-headquartered leader in corporate reputation measurement, risk management, and risk transfer. Steel City Re is the Overseas Specialty Broker/Advisor to syndicates comprising various underwriters at Lloyd’s and various insurance companies led by Tokio Marine Kiln. In addition to enabling diverse reputation governance, control, and risk transfer solutions for companies, their directors and officers, Steel City Re’s Reputation Value Metrics empower third-party investment strategies and equity indices.

Follow Steel City Re’s CEO Nir Kossovsky and the indexes, research and other data he and the firm produces, on our social media platforms LinkedIn and Twitter.


Quips and Quotes

Highlights from 2015

Highlights from 2014

Highlights from 2013

Highlight from 2012

Highlight from 2011

Nir Kossovsky

Chairman of the Board and CEO

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. He is also a founder, director, and executive with Bellrock Intelligence, a health information technology company. 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 executive secretary of the Intangible Asset Finance Society.

Peter Gerken

Director 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.

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.

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 4940
Pittsburgh, PA 15219-2703

Copyright © 2007-2018 Steel City Re. All rights reserved.


Underwritten by certain underwriters at Lloyd's and Kiln

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Contact Info


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