Financial Services Industry
Industry: Email Alert RSS FeedVIACOM Disputes Report Of Emmy Losses.(Emmy awards cancellations result in loss for CBS)(Brief Article)
National Underwriter Property & Casualty-Risk & Benefits Management, October, 2001 by McDonald, Caroline
A National Underwriter report that the cancelled Emmy Awards were not insured for advertising losses has been labeled "inaccurate" by an official of Viacom. But Ted Mangano, vice president, risk management, refused to provide any details concerning the insurance coverage in question or to expand in any way on a written complaint he sent to the magazine.
In a letter to the National Underwriter, Mr. Mangano did not say the losses were insured, but rather that they were "insurable." The letter stated that "Viacom is currently evaluating the extent to which its insurance program covers its losses and is confident that it has suffered insurable losses." The 53rd Annual Primetime Emmys, originally scheduled for Sept. 16, were cancelled in the aftermath of the...
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