Abstract: Disclosed herein are insurance systems and methods to provide insurance for contingent liabilities. An insurance system can customize an insurance product for a company to cover a contingent liability, wherein the cost of the insurance product considers various factors, including, for example, likelihood of the contingency associated with the contingent liability, the estimated value of the obligation potentially arising from the contingent liability, and the estimated timeframe until the contingency is resolved. Purchasing the insurance product can enable the company to more accurately reflect its financial position in a balance statement and, thus, to more appropriately disburse funds to shareholders. Other embodiments of the insurance systems and methods are also disclosed.