Specialized Industries - Telecommunications
Transformational Change
Reshapes What You Need in Telecommunications Risk Management
Globally, the telecommunications industry is about a $3.5 trillion sector, including more than $1 trillion in annual revenues in the U.S. Worldwide, there were more than 2.3 billion cell phone service subscribers by mid-2007, including more than 239 million in the U.S. Global subscribers will grow to nearly 4 billion by the end of 2011. Telecommunications remains one of the largest providers of employment in the world, with nearly 1 million employees in the U.S. alone. It's no wonder experience in telecommunications risk management is in high demand.Several forces continue to reap major changes in the telecommunications sector today:
- Mergers and consolidation have completely changed the industry’s landscape;
- Increased competition and cross-border ownership of telecom businesses is making this an increasingly globalized industry;
- Deregulation and privatization will have a continual effect on the telecom sector worldwide, and;
- Rapid advances in Internet and wireless technologies will continue unabated, quickly changing consumer preferences and disrupting traditional communication methods.
Industry Expertise is Required for Success Today
Given the speed and magnitude of change in telecom, you need assurance that your broker deeply understands the nuances of your business and their impact on risk. Back when the phone company was MaBell, insurance coverage was fairly simple and straightforward. Not any more. The insurance and telecommunications risk management issues today are deep and complex.Beecher Carlson’s expertise in telecom enables us to craft flexible telecommunications risk management strategies covering your company’s immediate needs while anticipating your future growth. We are ready to share our insight, knowledge and practical skills to help you:
Identify specific exposures influencing the company’s risk profile, thus allowing you to better manage your risk by truly knowing your exposures.
- Use predictive modeling to identify risks, providing a factual basis for risk calculation.
- Develop loss prevention and mitigation strategies for Executive Liability risks
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