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[IP] ins. bankrupt
<<<That's quite a strain on the insurance industry all at once whether it be
> It might depend. Most insurance policies state that there is no coverage
acts of war. The president came out right after the WTC and announced it
act of war. It's possible they (insurance companies) won't be paying what most
think they will. If there's a way to weasel out of paying, you can bet they'll
Judi in MI <
I believe that the 'act of war' clause is for property only. I have also
heard that many units in the Towers had exclusions for terrorism, because
of the bombing in '93.
The people who have died will still be covered for Life and I would think
that stock brokers would have humongous amounts as there was a lot of
earning power in those buildings. Throw in the airliners, which would be
covered normally, along with the problems the reinsurance companies will
have, the reluctance of any jury in the country to not award damages from
the insurance companies and I would be extremely stunned if this wasn't the
highest liability for the insurance companies ever, and maybe a couple
times higher. Also, insurance companies are heavily into the stock market
so that I think that the balance sheet is not looking too good.
I was just told that our next insurance will be, at least, twice what our
former was. Last year, when I had family coverage, my share was
$5,200. My employer only covers part of the primary, and none for family
or couples. I expect all of our insurance costs to increase and, I hope,
that this will bring about some kind of national 'socialist'
coverage. Sorry, I can not afford insurance, this is not a political
statement but a necessity.
Jack email @ redacted
Please watch for the missing, especially my son.
When a man says he approves of something in principle, it means he
hasn't the slightest intention of putting it into practice.
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