Equipment breakdowns rival fire in property-related claims, warns FM Global

Credit: iStock/Milos Dimic

Equipment breakdown is close to matching fire in both frequency and severity of large risk losses in excess of $3m and excluding nat cats, according to FM Global in its analysis of 2018 claims. The commercial property insurer said it received 232 large risk claims last year. Equipment breakdown accounted for 65 of the claims and 28% of FM Global’s…

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