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New York; CA - Anderson Kill Insurance Services (AKIS) warns: Y2k Insurance Claims deadline approaching fast
greenspun.com : LUSENET : Grassroots Information Coordination Center (GICC) : One Thread
Corporate News Release
Y2K Insurance Claims Deadlines Approaching Fast; Anderson Kill Insurance Services Provides Interactive Quiz
NEW YORK--(BUSINESS WIRE)--March 6, 2000--Insurance companies are hoping that corporations will not notice the fast approaching deadlines to file notices for their huge Y2K remediation costs. For corporations that are wondering whether they should file a claim with their insurance companies, Anderson Kill Insurance Services, LLC has put a quiz on-line to help them with this vital decision.
"Every major corporation needs to immediately review all their insurance policies to see if they may be covered for their Y2K remediation costs. To point corporations in the right direction, we put a quiz on-line at http://www.andersonkill-is.com/y2k.htm, so corporations can see how they stand." said Finley Harckham, President of AKIS. "Too many corporations did the technical work, but have not followed up on getting payments from their insurance companies.
Corporations need to act now to determine if they need to send Notice Letters or enter into Tolling Agreements with their insurance companies," he said. "Some corporations may well decide not to pursue Y2K claims against their insurance companies, but such decisions should be based upon a thorough analysis of their policies and coverage issues," said Finley Harckham.
Rarely, will a risk manager find a policy that specifically includes or excludes Y2K coverage with the exception of some recent policies. Therefore, corporations need to look at more than just the exact language in the policy. Correspondence, brochures and notes of statements made by insurance company representatives may be important in determining the scope of the policy. AKIS maintains extensive records of such items, as well as hundreds of depositions from insurance company executives in prior law suits.
Anderson Kill Insurance Services LLC provides comprehensive consulting services to policyholders. AKIS is a subsidiary of Anderson Kill & Olick, P.C., the leading national law firm in the representation of insurance policyholders for over twenty years.
Mr. Harckham is available for interviews. CONTACT: Anderson Kill Insurance Services, New York - Finley Harckham, 212/278-1543, or Web Counsel, LLC - Mark Pruner, 914/925-9300, email@example.com [AOL] KEYWORD: NEW YORK CALIFORNIA Source: America Online News, no url available -- Lee Maloney (firstname.lastname@example.org), March 07, 2000
According to a January 2000 edition of a newsletter from the Information Technology Association of America (ITAA), "(t)he Federation of Insurance and Corporate Counsel, Inc. (FICC) maintains a website engaged in a general discussion of the insurance issues raised by Y2K claims under different lines of coverage. The site also tracks some of the major insurance-related Y2K cases. To access the site, (search on FICC and) click on 'FICC Y2K Index'."
For information concerning law suits, see ITAA's Legislative and Litigation Table, see http://www.itaa.org/year2000/legis.htmand Calendar and http://www.itaa.org/y2kcal.htm
-- GICC Sysop (email@example.com), July 18, 2000