Re: "an act of war" & insurance payments

[Gar Lipow <lipowg@xxxxxxxxxxxxxx>]

Without being an authority: acts of war are ALWAYS excluded. (There are
probably exceptions through custom policies, such as that offered by
Lloyds.) Acts of terrorism are SOMETIMES excluded - depending upon
whether the exclusion is written into the specific policy.

BTW - what is hydro=nuclear? Nuclear power plans use fission to boil
water to run steam engines. Hydro power uses falling water to drive
turbines.

In terms of limitations -- sounds like you have something similar to the
Price-Anderson act in the U.S. which drastically limits the liabilty for
nuclear power plants.

Ken Hanly wrote:
>
> Would it make any difference. Would insurance ever cover acts of terrorism?
> I thought that damage due to terrorism or insurrection would be
> automatically excluded. But no doubt someone with more expertise can set us
> straight. In Ontario the province has conveniently passed a law that limits
> its liability for damages that might be caused by nucelar hydro power
> reactors as I understand!
>
> Cheers, Ken Hanly
>
> ----- Original Message -----
> From: Tim Bousquet <chicoexaminer@xxxxxxxxx>
> To: PEN-L <pen-l@xxxxxxxxxxxxxxxxxxx>
> Sent: Wednesday, September 12, 2001 11:43 AM
> Subject: [PEN-L:16987] "an act of war" & insurance payments
>
> > 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?
> >
> > 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?
> >
> > tim
> >
> > =====
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