The Day You Get Locked Out By Ransomware
RISK MANAGEMENT magazine recently reported on the growing threat of ransomware in an article by Editor Hillary Tuttle titled “Ransomware Ready: How To Prepare For The Day You Get Locked Out.” According to
Captivating Thinking
2017 Storm Losses Might Surpass $100 Billion – Will Insurance Rates Rise?
Business Insurance recently reported that total insured losses for recent storms and earthquakes will likely surpass $100 Billion and could be as high as $165 Billion. The good news is that insurers and re-insurers “can absorb storm and quake losses.” However, third quarter losses will put a significant dent in capital reserves, leading
Equifax – Proof That Sometimes A Business Can’t Buy Enough Insurance
Bloomberg recently reported that Equifax Inc.’s insurance against cyber breaches is likely insufficient to cover the credit-reporting company’s costs tied to one of the biggest hacks in history. This hack is particularly ironic as Equifax – the guardian of information used to cast financial judgment on consumers – has itself been unable to guard that information. For that reason alone, the class action suit or suits are likely to be monumental.
According to Bloomberg, Equifax holds cyber-insurance policies that will
The Empire Strikes Back (Part 3) – The Avrahami Captive Court Case
By Sean King, JD, CPA, MAcc
This is the third and final part of our series on the United States Tax Court’s recent Avrahami decision.
Introduction
Recently the United States Tax court issued the long-awaited opinion in the Avrahami captive insurance case. And after more than 30 years of losing most every captive insurance case of consequence, the IRS finally got a win.
In Part 1 of this series we discussed the court’s decision that the Avrahami captive insurance arrangement failed