Business Services Industry
Not all Sept. 11 claims covered ; BI Executive Forum.(costs of disruption to businesses caused by terrorist attacks)(Brief Article)
Business Insurance, February, 2002 by Souter, Gavin
NEW YORK-Business interruption insurance will not cover all the costs of disruption to businesses caused by Sept. 11 terrorist attacks on the World Trade Center, according to New York's top insurance regulator. ``At some point it can't be expected that an insurance policy is going to cover all that ails a certain business,'' said Gregory V.
Serio, New York insurance superintendent. Instead, government funds will need to be layered with insurance payments, he said at an Executive Forum on business interruption insurance, sponsored by Business Insurance in New York last week. Still, many businesses should have some substantial business interruption claims paid, several other speakers said. In particular, they said, policyholders with manuscript policies,...
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