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Technology Stocks : 2000 Date-Change Problem: Scam, Hype, Hoax, Fraud -- Ignore unavailable to you. Want to Upgrade?

To: David Eddy who wrote (853)	9/13/1998 4:27:00 PM
From: jwk	Read Replies (1) \| Respond to of 1361

Well, looks like organizations who insist they have no problem will be able to backup that position by not having any insurance to not cover all the problems they won't be having. I certainly hope they aren't putting any money in their lawyers palms by having them prepare legal postions for suits they won't be facing. >>>Sunday September 13 2:01 PM EDT Insurers May Not Cover Y2K Problems HARTFORD, Conn. (AP) - The state Insurance Department has ruled that insurance policies do not cover costs associated with Year 2000 computer problems unless coverage is specifically stated in the policy. The Insurance Department made the ruling after the insurance industry group Insurance Services Organization sought an opinion on the coverage. Insurers claim that commercial property policies, which cover some business disruptions, do not cover computer breakdowns from the Year 2000 problem because the policies do not specifically list the problem, said the group's spokesman, Christopher Guidette. The Insurance Department's ruling clarifies that existing policies do not cover machines that stop working because of Year 2000 problems, said Walter Bell, director of the Insurance Department's property-casualty division. For liability coverage, the Insurance Department's ruling allows the policyholder and the insurer to determine the level of coverage that will be offered and paid for, Bell said. Experts say many computers and machines that run on computers may not work when Jan. 1, 2000 rolls around because the computers were not programmed to recognize the difference between the years 1900 and 2000. The Insurance Services Organization has sought similar rulings from insurance regulators around the country. <<<<