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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion -- Ignore unavailable to you. Want to Upgrade?

To: Christine Traut who wrote (12309)	7/10/1998 10:47:00 AM
From: Jeffrey S. Mitchell	Respond to of 13949

So I think that national legislation to define what that liability will be is an excellent - and necessary - idea. Good point. Heck, it's not even clearly defined whether insurance covers anything Y2K related. ISO, the insurance trade organization that provides legal language for policies, has written a series of endorsements...errr... "clarifications" as they say... to be included in all renewed policies to essentially say "oh, by the way, we're sorry we didn't make it clear earlier, but you are not covered for Y2K. You no sign, you no get insurance." Of course for companies whose policies extend into 2000, it should be quite an interesting court fight to see if they can get coverage under the policy as written. As I've stated earlier, insurance policies expire at 12:01am, not at the stroke of midnight, so if a company flips on a switch at 7am and nothing happens, when did the business interruption take place: 12:00.00001, or at 7am? Thus, which policy would be in force? This must also be addressed at some point. - Jeff