Pending Government Immunity for Telecoms Uninsurable 5G Network?
New Swiss Re Report Dubs 5G “Next Asbestos”
Looks like the 5G network — touted as the next coming for the tech sector — could well share the fate of the Segway, that over-hyped, over-promised revolution in motorized personal transport that did not materialize. To the disappointment of many savvy Segway investors and inventor Dean Kamen, the gigantic motorized scooter ended up as a niche market for business, medical and military security programs, and tour groups unafraid to appear slothful.
Not surprisingly, insurance for operating the machine required special provisions, especially after the very public pratfalls of President George H.W. Bush and journalist Piers Morgan, and the tragic death in 2010 of Segway’s newest owner, James W. Heselden, after driving off a cliff.
In 1997, after attending briefings about the looming disasters posed by superstorms from global climate change at the Kyoto conference, Mutual of Omaha and Metropolitan Life Insurance refused to cover warming-related damage. Now the secondary insurance market is explicitly refusing to insure against damages from 5G and other electromagnetic fields (EMF), fearing the technology that has yet to be built could potentially wreak as much havoc for their industry as asbestos did more than three decades earlier when it…
