Santa Claus Inc., the international toy maker, is a risky business that has serious insurance coverage problems, according to a consulting firm report.
"Santa's North Pole operation is a self-insured nightmare," said the study's author, Kevin R. Gallagher a vice president at Holmdel, N.J.-based Chiltington International Inc., which advises on insurance and reinsurance.
Mr. Gallagher said he thought Mr. Claus "would have a difficult time obtaining insurance or reinsurance based on his operation."
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