Oxford’s Own, Susan Euteneuer Quoted in New York Times
As business owners grapple with the magnitude of current events related to the COVID-19 outbreak, the benefits of establishing a captive insurance business have gained additional attention. In an article titled “Once Scrutinized, an Insurance Product Becomes a Crisis Lifeline” posted March 20, 2020, The New York Times’ columnist Paul Sullivan interviewed several people in the captive insurance industry, each of whom described benefits of validly formed and operated captives for addressing low frequency/high severity risks that are excluded by traditional insurance policies. Oxford’s General Counsel and Chief Compliance Officer, Susan M. Euteneuer, was quoted in the article, describing some of the coverages offered to Oxford’s captive insureds that may be triggered by recent events, including coverage for when a pandemic triggers a supply chain interruption and coverage for when a civil authority orders businesses to close. Those coverages can include reimbursement of actual net losses and extra expenses that the insured incurs in mitigating losses. The full article can be found here.