News News Archive Email A Friend April 15, 2024 Colorado Worker Shows Head Injury Happened as a Consequence of a Knock on the Head at Work April 4, 2024 Callfornia Division of Workers' Compensation Pharmacy and Therapeutics Committee Meeting Scheduled for April 17, 2024 April 3, 2024 California Division of Workers' Compensation Posts Adjustments to Official Medical Fee Schedule (DMEPOS) April 2, 2024 California Division of Workers' Compensation Posts Adjustments to Official Medical Fee Schedule for Pathology and Clinical Laboratory
| | Marsh Advises Clients Affected By Egyptian Mayhem To File Interim Payment Requests By Lonce LaMon - February 11, 2011With all the upheaval, damages, and mayhem that have gone on in Egypt for more than two weeks, broker Marsh has told its clients affected by the Egyptian political turmoil to gather their insurance policies and file claims as “interim payment requests”.
The amount of the interim payment is not important; what is important is that it forces a decision on coverage.
Earlier this week, Alan Morton, the senior claims advocate in Marsh’s international division, spoke during a webcast, stating, “If the insurer doesn’t think the claim is covered, he’s not going to pay an interim.”
The move of making a claim as an “interim payment request”, according to Morton, “encourages an early debate” and he advises that clients should put all policies—whether for political risk, property damage, or other—on notice.
According to Chad Hemenway, a journalist writing for propertycasualty360.com, “A survey of carriers indicates many are not writing at all until they understand if any other countries can be affected by the uprising in Egypt.” Hemenway went on to quote Evan Freely, global head of Marsh’s political risk and trade credit practice, as stating that in the “immediate term” he can’t see pricing for political risk insurance going “anywhere but up” in the Middle East, with availability somewhat lower.
Hemenway refers to Evan Freely being concerned about places like Yemen, and to a lesser extent, Jordan, Syria, Libya and Algeria.
Today, finally, President and Dictator Hosni Mubarak resigned as the 30-year ruler of Egypt. The overwhelming delight of the people of Egypt was demonstrated in ecstatic jubilee celebrations which were like Dionysian frenzies.
|