An insurance policy does more than just pay it claims, it pays to defend you against lawsuits. As the Marriott breach shows, lawsuits can come quickly and they are not cheap to defend against.
Today there was an article in STAT about the shortage of manufacturing capacity for gene therapy companies (find the article here). The article goes on to talk about how the problem might only get worse as companies pursue indications in larger patient populations and the trial sizes get bigger and bigger. There was also a … Continue reading How CFOs are Protecting Themselves From Manufacturing Disruptions as Gene Therapy and Immunotherapy Manufacting is Being Stretched Thin
Today I had the privilege of attending the NJ Tech Council CFO Forum at EY in Iselin (Metropark), NJ. The featured speaker was Jim Mastakas (bio), the current Senior VP and CFO of Virtus Pharmaceuticals, and who previously worked at Amneal. Jim was there to speak about his time at Amneal and the deal he … Continue reading NJ Tech Council CFO Forum – An Overview of the Amneal/Impax Merger
When designing an insurance program should we think about adding coverage or eliminating risk? Most brokers think about adding coverage while clients think about how they can curtail risk. You might think these opposing approaches would get you to the same place in the end but that is not necessarily true. The problem I have … Continue reading Addition by Subtraction – How a Risk Management Program Can be Designed to Address a Company’s Most Vital Risks
I recently read that Illinois Tool Works (ITW) prevailed in a case against the IRS. The IRS challenged that a loan from ITW’s foreign subsidiary to its parent company was a nontaxable return of capital as ITW contended. The IRS dtermined that it was not a loan but a dividend and as a result a … Continue reading Not Sure The IRS Agrees With a Tax Position Your Company Has Taken? Here is a Solution
Skin in the game – that means your insurance broker actually having a vested interest in your success and the level of service you receive year in and year out. Skin in the game does not mean your broker having a greater financial interest in year one compared to subsequent years yet that is how … Continue reading Your Insurance Broker Has No Incentive to Retain You as a Client!!!!
I recently attended an event for CFO’s and one of the sessions was about insurance and who is the real beneficiary of an insurance policy – the insurer or the insured. For the most part insurance companies are for-profit entities, many publicly traded. They have shareholders to answer to and quarterly results to meet. The … Continue reading Insurer vs Insured – Who Does the Insurance Policy Benefit?