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Buyers Warned To Monitor Insurers

New York

Representatives from three ratings services and a brokerage delivered some dismal messages about insurer financial strength at a recent meeting, as they cautioned insurance buyers to keep a watchful eye on rating agency warnings and downgrades for property-casualty insurers.

Monitoring your insurance providers is no longer an annual exercise. “Its constant,” Paul F. Sherbine, managing director of the market information group for Marsh in New York, told risk managers gathered here at a Risk and Insurance Management Society New York Chapter meeting.

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