Buyers Take Big Risks By Going Bare To Cut Costs

Corporate America is feeling the heat these days and is decidingto go bare. Buying less insurance–and in some cases no insurance atall–and betting the corporate farm that nothing bad will happenseems to be how risk managers at many U.S. corporations are dealingwith the higher cost of insurance.

While buying less of anything is usually considered to be arational economic response to higher prices, the strategy of buyingless insurance–or going bare altogether–will almost certainly leadto more businesses being burned by a wide variety of existing andemergent perils.

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