The Y2K doomsayers have done their jobs well, and many companies will have sufficiently fixed their computers by Jan. 1, 2000 to avoid the Millennium Bug, insurance experts contend. But attorneys warn that this doesn't mean there won't be any coverage lawsuits.
Insurance experts and lawyers debated "The Potential Impact of Y2K on the Insurance Industry" as part of a panel discussion at Insurance Education Day at the College of Insurance in New York. The panel was sponsored by the Conference of Special Risk Underwriters.
Richard Thomas, a senior vice president at New York-based AIG, said he is optimistic after having examined over 2,000 firms of all kinds to assess the Y2K problems among insureds.
