Apparently many business owners in the blast area of Boston that were closed and lost business for over a week, and their insurance carriers, are waiting anxiously to see if the bombings are officially deemed an act of terrorism.
Most of the businesses opted not to carry anti-terrorism insurance and having the act declared as such will let the insurance companies off the hook for damages businesses incurred including from not being able to be open. Sounds like the anti-terrorism insurance runs $9K a year which is a part-time employee or a dent in the rent for a small business.
Rather sad. It is hard to justify paying for all the specific insurance situations but I guess if the dice get rolled against you when you gamble, you loose. It's no secret insurance is but a way of managing odds with the house winning most of the time one way or the other. On the other hand, and as hard as it is for me to side with filthy rich insurance companies? They offered the policy riders.
Really sad how insurance companies always have ifs and buts. Insurance needs to be more cut and dry. Something happens to your insured asset, pay for it, end of story. We pay into it anyway, that money may as well come back at us when we need it, it's the whole point of the service.