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5G Wireless Existential Business Plans, According to New Report by fibeReality, LLC

5G Wireless Existential Business Plans, According to New Report by fibeReality, LLC

Press release content from Business Wire. The AP news staff was not involved in its creation.

MCLEAN, Va.–(BUSINESS WIRE)–Oct 12, 2020–

fibeReality, LLC announced in a newly published study that the 5G strategy of Verizon Wireless and other mobile network operators is simply about ensuring their sheer survival because of the intense concern of running out of adequate capacity in general, based on the burgeoning data requirements of their current and near-term customers. Verizon’s 5G Enterprise: Hoarding mmWave for Viability states that although being compelled to quickly respond to getting hammered on the marketing side for full nationwide 5G offerings, especially by T-Mobile, Verizon has already gained a vital network cost and efficiency advantage in maximizing its internal scale capability, including deploying the most optimal architectural design, and encompassing its fiber support infrastructure.

“There has been a false industry-wide narrative that the main purpose of 5G is in offering subscribers unique applications broadly, and so, T-Mobile making coverage and penetration its priority, resulting in limited differentiation from 4G smartphones, while ignoring the critical investments necessary in its millimeter wave spectrum, is akin to putting the cart before the horse,” said Mark Lutkowitz, Principal at fibeReality. “At the same time, Verizon has been forced to become more cautious and tentative than usual with its 5G mmWave buildout not only based on the Covid-19 outbreak, but because of the unexpected expenses and of the additional time necessary to deal with technical difficulties.”

Regarding Verizon Wireless CAPEX, the report projects as much as a 20 percent decline in 2021 compared with fibeReality’s estimate in 2019, with a recovery to normal levels starting in 2022, including continuing work to enable its mid-band spectrum footprint. It also forecasts that the operator’s CAPEX for mmWave will be as much as a third

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WestCongress Insurance Holdings LLC Announces Appointment of Steven H. Kerr as President and Chief Executive Officer

WestCongress Insurance Holdings LLC Announces Appointment of Steven H. Kerr as President and Chief Executive Officer

DETROIT, Oct. 8, 2020 /PRNewswire/ — WestCongress Insurance Holdings LLC, the parent company of WestCongress Insurance Services, a specialty insurance producer, and WestCongress Risk Services LLC, a claims administrator, today announced the appointment of Steven H. Kerr as its President and Chief Executive Officer.

Mr. Kerr’s background in the insurance marketplace spans more than 30 years, primarily with Marsh, a global leader in insurance broking and risk management. Most recently Mr. Kerr served Marsh’s Managing Director and Global Engagement Partner where he led Marsh’s largest global clients in a strategic risk consulting capacity.  Mr. Kerr also has extensive experience in wholesale and retail distribution and has led teams of producers in driving revenue growth, including serving as Marsh’s Chicago Office Head, as Growth Leader – Americas, and as CEO of Seabury and Smith, Marsh’s consumer and commercial products group.

“We are pleased to welcome Steve to the team. He is the right leader for WestCongress at this stage in our development,” Richard H. Smith, chairman of WestCongress stated. “His extensive background in specialty insurance and with excess and surplus lines distribution channels will help WestCongress strengthen its distribution relationships and expand its product offerings.”    

Mr. Kerr commented, “The WestCongress leadership team has built an excellent operation with a strong reputation in the wholesale broker community. I am pleased to join a company positioned for growth and am eager to be a part of taking WestCongress to the next level. We will be looking for every opportunity to streamline the current operation, expand product offerings, develop existing broker relationships and find new distribution channels.”

About WestCongress

WestCongress Insurance Services LLC is a specialty, surplus and excess lines insurance producer based in Detroit, Michigan. WestCongress offers primary and excess general liability insurance solutions throughout the United States for targeted

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