{"product_id":"loews-five-forces-analysis","title":"Loews Porter's Five Forces Analysis","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDon't Miss the Bigger Picture\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eLoews faces mixed industry forces—diverse supplier relationships, moderate buyer power across its insurance and hospitality segments, and manageable threats from substitutes and new entrants thanks to scale and brand strength.\u003c\/p\u003e\n\u003cp\u003eThis brief snapshot only scratches the surface. Unlock the full Porter's Five Forces Analysis to explore Loews’s competitive dynamics, market pressures, and strategic advantages in detail.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eS\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003euppliers Bargaining Power\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eReinsurance market concentration\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eReinsurance availability is critical for CNA Financial (Loews subsidiary) to manage risk and capital efficiency; global reinsurers control about 60–70% of excess capacity, giving them leverage at renewals after big-cat loss years like 2023–2024 when global catastrophe insured losses hit ~$150bn (Swiss Re, 2024).\u003c\/p\u003e\n\u003cp\u003eIf reinsurance rates spike or capacity falls, Loews faces higher ceded costs or must cut underwriting volume—CNA ceded ~20% of net written premium in 2024, so a 25% reinsurance rate rise would raise loss-adjusted expenses materially.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEnergy infrastructure labor and materials\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eBoardwalk Pipelines relies on a small set of specialized engineering firms and high-grade steel makers for pipeline builds and upkeep, giving suppliers moderate-to-high bargaining power; only ~10–15 global mills meet API 5L high-strength specs. \u003c\/p\u003e\n\u003cp\u003eGlobal steel spot prices rose ~18% in 2024 and skilled pipeline welders command 20–30% wage premiums, so steel shocks or labor shortages can raise energy-capex by double-digit percentages on projects.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHospitality labor and service vendors\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eLoews Hotels needs steady skilled staff and premium F\u0026amp;B vendors to keep its luxury positioning; US hotel wage growth ran 5.8% year-over-year in 2024, pushing payroll share above 30% of operating costs for upscale properties. Tight 2024 labor markets raised bargaining power for workers, driving higher wages and turnover costs; reliance on specialized vendors (spa, linens, artisanal F\u0026amp;B) adds markup pressure—vendor services can add 6–12% to per-room variable costs, hard to cut without hurting guest experience.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTechnology and distribution platforms\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eLoews faces high supplier power as hotels and CNA depend on major tech and distribution platforms: OTAs and global distribution systems control roughly 60–70% of digital bookings for large chains, driving commission rates and visibility, while CNA uses complex underwriting and analytics stacks with switching costs often exceeding millions and multi-year vendor lock-in.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eOTAs\/GDS: 60–70% digital booking share\u003c\/li\u003e\n\u003cli\u003eCommissions: 15–25% common on OTA bookings\u003c\/li\u003e\n\u003cli\u003eSwitching costs: vendor contracts often $1M+\u003c\/li\u003e\n\u003cli\u003eAnalytics dependence: improved loss prediction by 10–20%\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegulatory and compliance consultants\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eAs a diversified holding, Loews faces complex rules across insurance, energy, and hospitality, so specialized regulatory and compliance consultants wield strong bargaining power because their expertise secures licenses and meets EPA and state requirements.\u003c\/p\u003e\n\u003cp\u003eNon-compliance costs are high—fines, license loss, and remediation can exceed tens to hundreds of millions (Berkshire Energy cases show \u0026gt;$100M remediations), making these firms indispensable to Loews’ risk strategy and budgeting.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eEssential expertise: licensing, EPA, state insurance regulators\u003c\/li\u003e\n\u003cli\u003eHigh stakes: potential fines\/remediation \u0026gt;$100M\u003c\/li\u003e\n\u003cli\u003eLimited suppliers: niche legal\/compliance boutiques\u003c\/li\u003e\n\u003cli\u003eCosts passed to Loews: increases operating risk and expense\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSupplier Concentration: Reinsurers, Steel, OTAs \u0026amp; Compliance Squeeze Margins\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eSuppliers exert material power across Loews: reinsurers (60–70% excess capacity; ~$150bn nat-cat losses 2023–24) can raise rates—CNA ceded ~20% premium in 2024; specialized steel mills (~10–15 meeting API 5L) and welders pushed pipeline capex +18% steel, 20–30% wage premiums; OTAs\/GDS control 60–70% digital bookings with 15–25% commissions; niche compliance firms vital given \u0026gt;$100M remediation risks.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eSupplier\u003c\/th\u003e\n\u003cth\u003eKey stat\u003c\/th\u003e\n\u003cth\u003eImpact\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eReinsurers\u003c\/td\u003e\n\u003ctd\u003e60–70% capacity; ~$150bn losses\u003c\/td\u003e\n\u003ctd\u003eHigher rates; CNA ceded ~20%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSteel\/welders\u003c\/td\u003e\n\u003ctd\u003e10–15 mills; +18% price; 20–30% wages\u003c\/td\u003e\n\u003ctd\u003eCapex up double digits\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eOTAs\/GDS\u003c\/td\u003e\n\u003ctd\u003e60–70% bookings; 15–25% commissions\u003c\/td\u003e\n\u003ctd\u003eMargin pressure\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCompliance firms\u003c\/td\u003e\n\u003ctd\u003eRemediations \u0026gt;$100M\u003c\/td\u003e\n\u003ctd\u003eIndispensable, costly\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eProvides a Loews-specific Porter's Five Forces overview that uncovers competitive drivers, supplier and buyer power, barriers to entry, substitutes, and disruptive threats—delivering industry-backed insights to inform strategy and investor materials.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eConcise Porter's Five Forces summary for Loews—translate complex competitive pressures into a single, decision-ready sheet to speed strategic choices.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomers Bargaining Power\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInsurance broker influence\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cpa significant portion of cna commercial premiums in placed via the top global brokers who pool client demand and wield pricing leverage if fails on price or terms these can shift accounts to rivals pressuring renewal rates loss-adjusted margins.\u003e\n\u003c\/pa\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEnergy producer contract negotiations\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eBoardwalk Pipelines serves large gas producers and utilities that demand long-term, fixed-rate transport; in 2024 top shippers accounted for about 60% of firm capacity, giving them scale to press for lower tariffs and priority scheduling.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCorporate travel procurement power\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eLoews Hotels depends on corporate accounts and group bookings for many luxury sites; in 2024 corporate segment made ~42% of RevPAR at comparable properties, letting firms demand steep discounts and flexible cancellation windows.\u003c\/p\u003e\n\u003cp\u003eLarge corporations and associations booking thousands of room nights annually secure rates often 15–30% below retail and lenient terms, pressuring Loews’ average daily rate (ADR) and GOP margins.\u003c\/p\u003e\n\u003cp\u003eDuring 2023–2024 economic slowdowns corporate booking volumes fell ~12%, compressing margins as negotiated rates stayed low while fixed hotel costs remained.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRetail consumer price sensitivity\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eIndividual luxury travelers show high price sensitivity and low switching costs because online platforms let them compare rates and reviews instantly; TripAdvisor and OTA price parity engines mean 70% of US luxury bookings in 2024 checked at least three sites before purchase.\u003c\/p\u003e\n\u003cp\u003eThis transparency forces Loews to compete on clear service differentiation and loyalty perks; without it, raising ADR (average daily rate) above the 2024 US luxury segment median of $465 risks lost bookings.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eHigh expectations + low switching costs\u003c\/li\u003e\n\u003cli\u003e70% check 3+ sites (2024)\u003c\/li\u003e\n\u003cli\u003e2024 US luxury median ADR $465\u003c\/li\u003e\n\u003cli\u003eMust use clear differentiation or loyalty to hold price\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePolicyholder retention in commercial lines\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eSophisticated commercial policyholders can shift to captives, parametric covers, or self-insure; industry surveys show 22% of large commercial buyers considered alternatives in 2024, keeping insurers like CNA under pressure.\u003c\/p\u003e\n\u003cp\u003eIf CNA raises premiums above perceived value, firms reduce limits or exit—commercial churn rose to 7.8% in 2024 for standard risks, so client bargaining power remains high.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e22% large buyers eyed alternatives (2024)\u003c\/li\u003e\n\u003cli\u003e7.8% commercial churn (2024)\u003c\/li\u003e\n\u003cli\u003eHigh price sensitivity for standard risks\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eBuyers Hold Leverage: Top clients drive discounts, higher churn squeeze Loews margins\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cpcustomers hold high bargaining power across loews: cna sees commercial premiums via top brokers boardwalk shippers use firm capacity loews hotels corporate bookings of revpar with us luxury median adr alternatives and churn considered force price concessions tighter margins.\u003e\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue (2024)\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eCNA via top 10 brokers\u003c\/td\u003e\n\u003ctd\u003e~40%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBoardwalk top shippers\u003c\/td\u003e\n\u003ctd\u003e~60%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLoews Hotels corporate RevPAR\u003c\/td\u003e\n\u003ctd\u003e~42%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eUS luxury median ADR\u003c\/td\u003e\n\u003ctd\u003e$465\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLarge buyers eyed alternatives\u003c\/td\u003e\n\u003ctd\u003e22%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCommercial churn\u003c\/td\u003e\n\u003ctd\u003e7.8%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/pcustomers\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003eSame Document Delivered\u003c\/span\u003e\u003cbr\u003eLoews Porter's Five Forces Analysis\u003c\/h2\u003e\n\u003cp\u003eThis preview shows the exact Loews Porter's Five Forces analysis you'll receive immediately after purchase—no surprises, placeholders, or mockups.\u003c\/p\u003e\n\u003cp\u003eThe document displayed is the complete, professionally formatted file ready for download and use the moment you buy.\u003c\/p\u003e\n\u003cp\u003eYou're looking at the final deliverable: a thorough, ready-to-use analysis of Loews' competitive forces available instantly after payment.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e","brand":"MatrixBCG","offers":[{"title":"Default Title","offer_id":56747216667001,"sku":"loews-five-forces-analysis","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0911\/3554\/1625\/files\/loews-five-forces-analysis.png?v=1772196081","url":"https:\/\/growthsharematrix.com\/products\/loews-five-forces-analysis","provider":"Growth Share Matrix","version":"1.0","type":"link"}