Flag: Carriers Warned Cut Rates Or Face More Self-Insurance, Telecom Buyers Say
Commercial insurance buyers in the telecommunications and electronics sectors have given the world's insurers an ultimatum either cut premiums and offer needed coverages, or risk seeing more exposures self-insured outside the traditional insurance market.
Insurance purchasers at the JLT Telecommunications and Electronics Forum in Lugano, Switzerland warned that the trend would accelerate if they couldn't get the coverages they need. They also said there was continued distrust of the financial health of some insurers.
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