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Sept. 11 Heightens E-Commerce Needs

Its no secret that technology can impact the fundamental competitiveness, franchise value, credit quality and the ongoing strength of insurance companies.

Furthermore, one of the greatest risks any insurance carrier can take is to be competitively unprepared by not having a comprehensive e-commerce strategy and an implementation plan for its operations. The events of Sept. 11 make dealing with these risks much more time urgent.

The insurance industry will suffer its worst losses in history, estimated to be between $50 billion and $70 billion, as a result of those attacks. In addition, industry underwriting capacity will be significantly reduced and reinsurance rates will rise very significantly.

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