Chief financial officers of corporations that have already set up captive insurance companies or are thinking about setting one up should ponder the benefits of self-insuring cyber perils and supply chain business-interruption risks via a captive to supplement commercial insurance coverage.

In 2010, massive flooding in Pakistan profoundly affected the country and disrupted supply chains globally, spiking international prices for cotton, rice and wheat. This was only one in a string of weather disasters - including heat waves, hurricanes and wildfires - that have affected supply chains on a large scale in the past decade.

Research McKinsey conducted in partnership with the World Economic Forum suggests that companies are struggling with their capabilities in cyber-risk management.

As U.S. and Canadian businesses plan to expand their business overseas this year, supply chain failures, data breaches and political instability are weighing heavily on the minds of their executives, according to a survey by the Chubb Group of Insurance Companies.

Reacting to public outrage, Western retailers and apparel brands began a major push to improve safety at the Bangladeshi factories they do business with. It involves a sprint to inspect hundreds of plants each month and a commitment to help correct any safety problems found — all with an eye to preventing another catastrophic collapse or fire. But instead of joining forces, the Western brands have divided into two sometimes feuding camps.

In 2013, 80 percent of supply chain leaders had a material supply chain disruption. It was not just one. The average company had three. Yet, in a study that just completed, when asked about business pain, supply chain risk rates low. How come?

As businesses increasingly rely on external parties for critical services, they become more vulnerable to business interruptions. This is especially true when such businesses know little about their third-party vendors' resiliency and recovery capabilities, according to PwC US, which examined the effects that vendor resiliency, or lack thereof, can have on an organization's business continuity strategy.