Ford's New CEO Continues to Race Cars

Posted Thu, Nov 19th, 2020

Exceptional Risk Advisors Lloyds of London Coverholder

With Permission from Bill Ford Himself, Ford's New CEO, Jim Farley, Continues Racing

High Limit Personal Disability Insurance

The newly minted CEO of Ford, Jim Farley, doesn’t just sell cars, he races them! Prior to taking his new post on October 1st, Farley received permission from the executive chairman, Bill Ford, to continue his passion for speed and competition while taking the helm of the automotive giant. And while many investors may see the move as uncommon due to the risk of Farley being injured or killed, it hasn’t stopped the automaker from moving forward with an individual who’s clearly a car guy at heart. Mr. Farley's annual income in 2019 reportedly was roughly $8.4 million.

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Jim Farley's story is a thrilling reminder to advisors working with corporations and individuals who enjoy engaging in risky avocations. Over the years Exceptional Risk Advisors has covered CEOs for hobbies the US life insurance markets often decline; race car driving, helicopter and stunt piloting, scuba diving and mountaineering to name a few. These solutions most often take the form of a Key Person Accidental Death & Disability program purchased at the corporate level. Benefits are often calculated to provide liquidity to cover employment contract obligations, the loss of future earnings, and the cost associated with hiring a replacement with elite skill-sets.

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