The Mayan Exclusion May Be Too Late

By | August 20, 2012
Editor’s Note: This article originally appeared in Insurance Journal’s Satire Issue, August 20, 2012. The content in this issue is not real and is not to be taken seriously. It’s supposed to be humorous. Seriously.

Dec. 21, 2012! That’s the date the Mayan calendar predicts the world will end. How could they predict the end of the world when they didn’t see their own demise coming?

The insurance industry is taking the Mayan doomsday prediction seriously. The two main coverage form-generating entities are planning to release new exclusion forms centered around Dec. 21, 2012. The “Mayan Exclusions,” as these endorsements are being called, exclude all damage resulting from the reversal of the earth’s magnetic field and any other planetary catastrophe occurring on Dec. 21.

“Think of them as the Y2K endorsements on steroids,” said one property lines analyst.

There is one major obstacle: many states require 120 days to approve new forms.

Several states contacted by Insurance Journal indicated they were not inclined to accelerate their processes. They are also not all sold on the need for the exclusion. One insurance department actuary asked, “Is anyone going to be here to file claims anyway?”

About Christopher J. Boggs

Christopher J. Boggs joined the insurance industry in 1990. He is currently the Executive Director, Big I Virtual University and former Vice President of Education for Insurance Journal's Academy of Insurance. More from Christopher J. Boggs

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