Re: WTC Insurance

From: Mike Lorrey (
Date: Mon Sep 17 2001 - 12:14:16 MDT

Harvey Newstrom wrote:
> One thing I have not seen mentioned by anyone is insurance. All of the
> insurance policies I have seen specifically exclude war and acts of
> terrorism. As far as I know, none of the damage is covered by insurance,
> none of the equipment or losses will be reimbursed, and none of the life
> insurance policies will be honored. Does anybody have more specific
> information about the insurance industry's response to this?

Yes, I've heard that several european insurance re-insurors will be
spending $500-800 million to settle claims, and Warren Buffett calmly
said on 60 minutes last night that he expects at least one, if not more
of the insurance companies his Berkshire Hathaway group owns to go
bankrupt, or nearly so, paying off settlements.

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