Buyers Take Big Risks By Going Bare To Cut Costs
Corporate America is feeling the heat these days and is deciding to go bare. Buying less insurance–and in some cases no insurance at all–and betting the corporate farm that nothing bad will happen seems to be how risk managers at many U.S. corporations are dealing with the higher cost of insurance.
While buying less of anything is usually considered to be a rational economic response to higher prices, the strategy of buying less insurance–or going bare altogether–will almost certainly lead to more businesses being burned by a wide variety of existing and emergent perils.
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