The organization running my Virtus training was the liability insurer of the Catholic Church, which certainly had first-hand knowledge of the damage sex-offender scandals can do to a once-revered institution.

FORBES: On the Penn State Implosion: Youth Sports Anti-Sex-Offender Rules Protect More Than Children

Reinsurance is a process whereby an insurance company spreads its risk by transferring a portion of a policy's liability to another insurer, which keeps part of the premium.

FORBES: Passing the Trash

One involves reinsurance sold by General Re for years to a professional-liability insurer in the state of Virginia, now bust and with unpaid liabilities.

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