Firms scrimp on insurance despite rise in claims

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LONDON – A survey by insurance broker and risk adviser Marsh has found European financial institutions (FIs) are buying less insurance or decreasing the sums insured, seemingly in a bid to save costs during the downturn. The latest research released by Marsh shows many European FIs are revising or lowering their insurance spend despite a rise in claims notifications, which, in some lines of insurance, have risen by 400% in the past four years.

“A lot of FIs are evaluating what they are buying

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