Insurance Companies: Acts of GOD = Acts of Terrorism

Be gentle, my first thread in SW.

I was reviewing my insurance policy and was intrigued at the number of exclusions. Since I live in Florida, I am acutely aware of the various aspects reagarding hurricanes and such, and it is amazing at what they consider "Acts of GOD" and are not covered. And now, post 911, "Acts of Terrorsim" are not covered.

So basically, the insurance companies equate Acts of God and Acts of Terrorsim the same. I realize that I am not making the best case with my simple logic, but read in detail your policy and see what I mean, or some stuff below.

In the law of contracts, an "act of God" may be interpreted as an implied defense under the rule of impossibility, i.e., the promise is discharged because of unforeseen, naturally occurring events that were unavoidable and which would result in insurmountable delay, expense or other material breach. In other contracts, such as indemnification, an act of God may be no excuse, and in fact may be the central risk assumed by the promisor

Source:

en.wikipedia.org...

The United States is still at war, and the government says it's prepared to pay the considerable cost. Your homeowners insurance carrier may not be quite so willing.

Virtually every homeowners insurance policy carries an "act of war" exclusion. Simply put, if the Iraqi army manages to launch an attack on U.S. soil and your property is damaged as a result, your insurance company isn't required to hand over a check.

The rules are equally clear for nuclear disaster: Insurance companies don't pay for that either.

But it starts to get a little foggy when you start talking about acts of terrorism. Then it becomes more a question of who did what to whom.

Source:

www.bankrate.com...

Some even blame GOD:

According to documents submitted to the court by Bayer, last year's massive contamination of US rice with an unapproved, experimental variety of rice called LL601 was due to 'acts of God' or the rice farmers themselves.

Pushing the blame onto the rice farmers is no surprise as the farmers are the ones suing Bayer for millions of dollars of lost income. The price of US rice plummeted last year, immediately following the discovery of the GE contamination in rice exported to Europe and Japan, where consumer resistance to Bayer's less-than-divine intervention in their food is strong.

Source:

www.greenpeace.org...

So what if you are an atheist and don't believe in GOD? Are you then covered? What if Acts of GOD are really Acts of Aliens, how about then?

Kinda Kurious

If your an athiest you could probably sue your insurance company.

after 9/11, insurance companies took a nice hit when folks started making claims. At the time of 9/11, I had a new show on Broadway (NYC) and, as a result of 9/11, we were closed for one week and we lost lots of revnue once we reopened, thanks to the fear of coming to the city, the security checks making it harder to get in and around and the loss of tourism.

When we first signed on with the theater we were told we had to get "the standard" policy for theatrical shows. We did. It was expensive as hell and, as we were new to this kind of venture, we actually read the document. Once we closed the show we reread that document and found that there was a clause that stated we'd be able to collect due to some kind of municipal lockdown.

We filed our claim, they fought us and we won. We were the only show to file a claim (at least that is what we were told by the lawyers who represented us).

Post 9/11, we leased some office equipment and the leasing company demanded we get insurance that covered us in the event of another attack. Try and find a company that will insure against that kind of calamity, in NYC, in a building that is blocks away from Macys, Penn Station, The Empire State Building, Madison Square Garden, CNN offices, Time's Square etc. It ain't happening.

It's a bad bet for the insurance companies so they won't be doling out policies covering terror attacks.