Re: "an act of war" & insurance payments

[Jim Devine <jdevine@xxxxxxxxxxxxxxx>]

At 09:43 AM 9/12/01 -0700, you wrote:
> If this talk of an "act of war" leads to the War
> Powers Act being invoked, does that let the insurance
> companies escape from making payments on the damage?

isn't that one of the key roles for declarations of disaster areas?

> My reading of the Chron this morning suggests that the
> total hit for insurance companies is on the order of
> $20 billion-- by far the largest insurance bill in
> history. Are the companies capitalized enough to meet
> the payments?

probably not. Hurricanes in Florida had a similar effect on insurance
companies a few years ago.

Jim Devine jdevine@xxxxxxx &  http://bellarmine.lmu.edu/~jdevine