A denial of claims based on the war exclusion would come with a hefty public relations price tag. Plus, there was the possibility that government mandates would override such a decision. To deny a claim would be un-American. But, the financial implications of accepting what might be ultimately $70 billion plus in covered insurance claims could force some insurers to take that chance to keep their business alive. On September 17, the National Association of Insurance Commissioners made a statement:.
there has been some concern that companies may deny coverage to victims of this tragedy based on exclusions for "acts of war." It would be completely unacceptable if it were to occur. Any attempt to evade coverage obligations would not only be unsupportable and unpatriotic-it would tear at the faith of the American people in the insurance industry.
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So, where does this leave the economy? The economy is basically based on consumer confidence in the market. The consumer is noted for taking risks and having faith in the United States market industry. The events of the terrorists of September 11, 2001 pose many potential problems for the United States economical society. Some of them include the following:.
1. Businesses need to update security by hiring extra security personnel or installing metal detection devices and other equipment to make their working environment safer. This creates an added expense to the producer and affects their competitiveness and profitability. This represents slower economy for the economy as a whole.
2. Travel and tourism industries have been greatly impacted because people are scared to travel and do not want to spend their money until they understand the economical situation more clearly. Airfares are beginning to decrease in order to get people to travel and spend their money to keep the economy flowing.
3. Estimated damages to building in the New York area are approximately $25 billion.
Bloom described Iowa drivers by saying that "Most Iowans drove large American-made automobiles, and they drove ever-so-slowly, almost never over the speed limit. ... Not only do I have experience with driving in Iowa, I also work in the construction business over the past four years, causing me to deal with Iowan drivers on a daily basis. ...
It suggested that he was interested to protect the interest, not of Iowans, but of the trial layers. ... Still, Bruce Braley's party affiliation did not seem to significantly affect his standing with the Iowan electorate. ... There was one particular issue that Iowan voters could not shake: Obamacare. ...
Is Wal-Mart good for communities, or is Wal-Mart a wolf in sheep's clothing? With a gross annual sales of over $67 billion and more than 2,000 stores, Wal-Mart is one of the biggest corporations in the United States. Wal- Mart opens a new store once every two days in small communities and citi...
Wal-Mart is taking Over Is Wal-Mart good for communities, or is Wal-Mart a wolf in sheep's clothing? With a gross annual sales of over $67 billion and more than 2,000 stores, Wal-Mart is one of the biggest corporations in the United States. Wal- Mart opens a new store once every two days ...
E Pluribus Unum "When an Iowan buys a Pontiac from General Motors, 60% of his money goes to South Korea, Japan, West Germany, Taiwan, Singapore, Britain, and Barbados".(Iyer, BR p. 306) In our world today, we exchange language, goods, values, and people. This idea of the increasingly diversified...