Why Fortune 1,000 CFOs Own Captive Insurance Companies and Why Small and Mid-Size Businesses Should As Well
Many mid-market CFOs and small business owners alike yearn for the day when their company can build a “war chest.” A “war chest” or stockpile of cash reserves can
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
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
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