FM Global: Equipment failures a leading cause of property losses for businesses

FM GLOBAL, shown with its corporate headquarters in Johnston, said equipment breakdowns are an increasing source for commercial insurance property losses. / COURTESY FM GLOBAL
JOHNSTON – Equipment breakdowns now rival fire loss in both frequency and severity of commercial property insurance claims, according to a new analysis of large risk losses reported last year to FM Global. Johnston-based FM Global, one of the world’s largest commercial property insurers, said among the company’s 232 large risk losses in 2018, 65…

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