FM Global said in a statement that of its 232 large risk losses last year, 65 were the result of equipment breakdown. (Photo: Fotolia) FM Global said in a statement that of its 232 large risk losses last year, 65 were the result of equipment breakdown. (Photo: Fotolia)

Equipment breakdown now rivals fire loss in both frequency and severity of claims, according to an analysis of large risk losses reported in 2018 to FM Global.

Large risk losses are those losses greater than $3 million that do not include natural hazard loss.

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Victoria Spears

Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected]

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