No Easy Answers On Terrorism Cvg
Tuesday, January 22nd, 2002 CatastropheSometimes, circumstances force you to confront problems for which there are no good solutions. That is the situation in which the insurance industry finds itself in the wake of the Sept. 11 terrorist atrocities. The insurance industry distinguished itself by its response to the tragedy. It quickly assured the public that it had sufficient resources to pay all the claims. Many insurance companies set up special 800 numbers for policyholders to call so that claims could be settled expeditiously. And above all, most insurance companies promised not to invoke the "act of war" clause in insurance contracts as a means of denying claims. It is difficult, as the nation still mourns the loss of thousands of innocent human beings and as we face an ongoing military campaign to bring the murderers to justice, to deal with the mundane realities that face the insurance industry.
