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Bad news for CFOs and risk managers: The days of cheap insurance premiums and readily available coverage are over. Worse, this trend is coming at a time when the upward limits of risk suddenly seem immeasurable.
In property insurance, the line most affected by the terror attacks, it's routine now for buyers to pay double the premiums and absorb a fivefold increase in deductibles. Rates for even a stable line like workers' compensation are now likely to increase by 20 percent to 40 percent this year, say brokers.
Insurance is still available in most cases, but high prices and coverage erosion have made it crucial for CFOs to gauge their companies' appetites for risk - and their preparations for worst-case scenarios.
CFO.com editors talked to a wide range of corporate executives, insurers, and intermediaries about five key insurance exposures: property, general liability, workers' comp, directors and officers liability, and political risk.
In this guide you'll find the results of those interviews, a chart containing quick summaries of pricing and coverage information, and an archive of previous CFO articles.
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