With Burger King planning to relocate there after completing its buy of coffee-and-donut chain Tim Hortons for about $11.4bn, Canada is emerging as the latest tax haven for U.S. firms fleeing a high tax code at home.

The United States has the highest corporate income tax rate among the 34 industrialized nations of the Organization of Economic Cooperation and Development, the world trade group, says a new paper from the Tax Foundation.

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.

Although U.S. companies still trail their European counterparts in using the Chinese currency renminbi for cross-border deals, the frequency has nearly doubled in the past year, according to a recent HSBC study, as reported by the publication Treasury & Risk.

Whereas business interruption insurance covers lost profits and continuing expenses as a result of physical damage to a policyholder's own facilities, contingent business interruption insurance covers such losses stemming from damage to the premises of a supplier or customer. Large companies typically have both types of insurance as part of their property insurance policies; smaller companies may not have the contingent business interruption extension.