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View Full Version : Caution: Act of War = No Insurance



LA
09.13.01, 05:34 AM
My husband and I were talking about this...and I'm curios for input by you guys.

If congress declares this strike as an official act of war, what happens to the insurance? All of our policies have little blips that release the company from having to pay out for death or damages to property due to acts of war.

Life insurance for everyone that died, the business insurance, the insurance on the buildings... Could that really be jeopardized as a result of congress and the president's action? smilies/scared.gif smilies/cry.gif

seenbad
09.13.01, 07:54 AM
quite possible. smilies/frown.gif However, I'm sure the government will have something set up for this very thing.

diamondsgirl
09.13.01, 08:01 AM
That's an interesting point, LA. I hope Seen's right and something will be done for the families. smilies/cry.gif

NE169
09.13.01, 08:41 AM
I read that insurance companies themselves have insurance (re-insurance??) just in case of something catastrophic like this ever happened. Can't believe thesee companies have that much $$$$$$$$$$$$ laying around, but what do I know.

MikeL
09.13.01, 08:44 AM
I think a part of the problem will be that they don't have that much money laying around. This'll break a lot of insurance companies if there isn't some form of assistance from the government.

lawchick
09.13.01, 09:11 AM
Very interesting point. Most policies do exclude acts of war. This could potentially mean that thousands of people will be denied life insurance benefits, medical coverage, etc. Depending on how different policies define "war", I guess I would argue that war does not officially exist until declared by Congress, and these acts occurred outside of such a declaration. That would be the final crushing blow, wouldn't it? To not receive life insurance proceeds on top of this whole disaster?

BigBadBrian
09.13.01, 11:12 AM
<BLOCKQUOTE>quote:</font><HR>Originally posted by lawchick:
Very interesting point. Most policies do exclude acts of war. This could potentially mean that thousands of people will be denied life insurance benefits, medical coverage, etc. Depending on how different policies define "war", I guess I would argue that war does not officially exist until declared by Congress, and these acts occurred outside of such a declaration. That would be the final crushing blow, wouldn't it? To not receive life insurance proceeds on top of this whole disaster?<HR></BLOCKQUOTE>

Yeah, that would totally suck. But if war was declared, or even if it wasn't, couldn't the Senate and House take care of this insurance problem in record time?