Politics should have nothing to do with this. I am surprised at your comment because if you know anything about insurance it is just that certain perils cannot be insured. Ebola is an emerging peril and is rightly excluded until it can be studied, quantified, and if possible, priced according to the exposure. You can’t just start covering a peril if you didn’t expect such when underwriting the risk. At this time though,Ebola was not in the perils-to-be expected picture. As for government picking up the tab for terrorism which has been excluded, the industry does its part by collecting a surcharge on all WC policies and another for what is known as DTEC. The government does not pay out all the time and only what was not covered otherwise…WHERE have you been?
Every time the industry excludes a peril they expect the Gov to pick it up…flood… tria…wind.. quake
Are they really in the risk business anymore??.
Politics should have nothing to do with this. I am surprised at your comment because if you know anything about insurance it is just that certain perils cannot be insured. Ebola is an emerging peril and is rightly excluded until it can be studied, quantified, and if possible, priced according to the exposure. You can’t just start covering a peril if you didn’t expect such when underwriting the risk. At this time though,Ebola was not in the perils-to-be expected picture. As for government picking up the tab for terrorism which has been excluded, the industry does its part by collecting a surcharge on all WC policies and another for what is known as DTEC. The government does not pay out all the time and only what was not covered otherwise…WHERE have you been?