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How Lucky Do You Feel?

With insurance premiums soaring and CFOs watching every penny spent, many risk managers are taking the leap and retaining more risk

By Staff Writer | Updated on April 01, 2002

Back in the good ole days of the 1990s, Richard Inserra, assistant treasurer at Praxair Inc., admits he probably bought a little too much insurance. “When [coverage] is cheap, you don’t mind overbuying,” Inserra says.

All that changed following the one-two punch inflicted by the Sept. 11 terrorist attacks and the Enron Corp. debacle. Now, there is probably not a line of insurance that can be named that isn’t facing double-digit premium hikes. And Inserra, like so many other executives charged with buying their companies’ insurance, is deciding to walk on the wild side and keep costs down by taking on more risk.

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