 |
 |
 |
|
Insurance
Forgive me, as I'm reading obsessively. In fact, most of the companies and the complex itself at WTC were insured against terrorism. One insurance company has considered voluntarily treating the deaths as an accident in order to double the payout to the beneficiaries. When, in your whole life, have you ever heard about an insurance company voluntarily offering more money because it was the right and generous thing to do? The New York Times ran a piece about this. Many companies also have (as I had when I ran a business a few years ago) a loss of business policy that will pay out for lost costs. You and I probably have a force majeure clause in our insurance policies, but we hadn't lived through the WTC bombing, either. In the middle of the human tragedy, the second cacading tragedy would have been the lost of hundreds of thousands, if not millions of jobs. I have great hope that a combination of insurance and government relief will allow the companies of the victims to survive. There was a wonderful piece about the head of Cantor Fitzgerald, his treatment of the families of his employees, and his commitment to be successful in the wake of the attack to support the families.
|
