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Summary and Comments

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Category: 

Litigation

Date: 

1997-08-22 14:17:02

Subject: 

$1 Trillion? For One Insurance Company Alone!

  Link:

http://www.midrangesystems.com/Archive/1997/Aug15/in101202.htm

Comment: 

An August 15 article in MIDRANGE SYSTEMS reports that Lloyds of London (which does not have limited liability protection for its investors) will suffer $800 billion to $1 trillion in litigation expenses over y2k unless it writes in exclusionary clauses.

The courts will be clogged with y2k litigation.

This assumes that: (1) governments will not pass legislation banning y2k losses from the courts as "an act of God" (which, in my view, it is) and (2) the court system will survive above the county level.

Link: 

http://www.midrangesystems.com/Archive/1997/Aug15/in101202.htm

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