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Terrorism Insurance: Congress to the Rescue? ( August 2003 )
As the cost of terrorism insurance soared, many borrowers found it difficult to secure insurers willing to provide coverage for terrorism at reasonable rates. Prior to September 11, 2001, insurers and reinsurers did not deem the risk of terrorist attacks material enough to fashion exclusions for such events in all-risk insurance policies covering high-rise office buildings. The state of the insurance industry, however, underwent a dramatic change following the destruction of the World Trade Center. Due to the scale of damages and the unpredictability of future terrorist attacks, many reinsurers began refusing to renew coverage for terrorist attacks. In response, as primary all-risk policies came up for renewal, almost all primary property and casualty insurance carriers began to exclude terrorist acts from coverage. This exclusion forced commercial property owners to look to stand-alone terrorism coverage. -
MC Carran-Ferguson---NOT ( June 2000 )
Sometimes, a cigar is just a cigar. Sometimes, it's a crime. By Eugene Wollan, ESQ. When I learned that the th. -
Insurance Coverage for the Year 2000 ( September 1999 )
Kevin J. Walsh Jay N. Heinrich Introduction An important element of a company's Year 2000 plan is an evaluatio. -
First Party Coverage for Y2K Claims? ( August 1999 )
A Phoenix dairy farmer utilizes state of the art equipment to milk his cattle. On January 1, 2000, his equipment c.
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