Thankyou for resurrecting this immortal thread.
I will always remember this thread as being quite possibly the only thing so far that has made insurance actually interesting for me, as well as a thread where I learnt a hell of a lot.
I'm glad my thread was helpful. Also, holy thread ressurrection, Batman!
I would like to start a thread,
Johhny Five, you appear to be a plant.
Sweet, you're awesome. You know that calling someone a "plant" here is like us getting "made man" status with the mob. That one's going right in the old signature.
But if you'd really like to claim I'm a "plant," please provide evidence of such.
Insurance underwriter, police studies and enough time to post more than 2000 times on this forum in less than a year.
I'm good at multi-tasking and we're done with renewals at work for the time being, so I have a few minutes.
By the way, police studies was what I studied for my first undergrad degree, not something I currently work with or study actively (beyond a basic interest in law enforcement news)... the one I completed over two years ago. You left out that I am currently studying for a mathematics B.S. and enjoy reading the works of H.P. Lovecraft and like popular film. I must surely be a plant for being able to do things, yessiree.
You always say quote source,
If you are an uinderwriter you would know of the changes to public liability after 9/11
Actually, that's more a policy service thing. Besides, I expressly state that I work in the field of group disability. I don't know about the specific policy changes to "public liability" (do you mean "general liability?") coverage, but I'd be glad to address them if you could present specifics.
I would imagine there might be more awareness of terrorism, yes. Probably not a big factor on the actuarial models, given the improbability of it happening, though.
please give is your sources
Sure thing:
http://query.nytimes.com/gst/fullpage.html?res=9F05EEDA1438F932A05756C0A96E958260
http://www.panynj.gov/AboutthePortAuthority/PressCenter/PressReleases/PressRelease/index.php?id=61
And if you're
really asking me to cite a source for the WTC towers be post-WWII, then just check the Wiki sources:
http://en.wikipedia.org/wiki/World_trade_center
The citation for the asbestos costs was from an issue of "Business Insurance," - McLeod, D.
"Port Loses Claim for Asbestos Removal," Business Insurance, May 14th 2001.
Stated amount was $200m for asbestos removal from the entire WTC complex. If you don't believe me, I can forward you the article if you
really want, it requires a paid subscription to view.
I'm not an "assessor," I'm an underwriter. Underwriters in insurance evaluate the potential risk of a potential insured and assign a monetary value in the form of a premium payment/rate. Also, I rate group disability, so I don't claim to be an expert in general liability risks.
Interestingly, my argument wasn't built on that. It was built on a general argument about insurance risk rating.
will know better than I do that pre ww2 buildings were different, solid constructions such as that other new york monster.
What exactly does this mean? Pre-war buildings tended to be brick/stone constructions, but they weren't
all composed of brick and stone. They also tended to have asbestos in greater quantities (because it was legal when they were built), and don't take advantage of advances in design or construction (because the advances weren't made yet).
Sitting on the verge of our local freeway to our capital are many hundreds of school rooms, all built in the time frame you mention. All of these are health hazards, badly built and full of toxic substances such as asbestos.
So what? What does this have to do with my argument? Many municipalities have paid many millions of dollars to remove or seal asbestos to comply with health regulations. I fail to see how this bolsters your claim.
It has cost our govt many millions if not billions to rid ourselves of the disaster of the 50's-60's and 70's when asbestos was in everything. How did it happen? People retuiring from WW2 needed jobs, asbestos mines, no worries mate.
cheers
(Actually, it often cost the private companies required to comply with federal and state regulations millions, but that's a minor point, I suppose)
Not sure how this helps your argument either, or even relates to it.
Asbestos has been regulated since the early 70's in construction. So what of all this? You've come in and vaguely questioned my original premise with... well, with nothing. This whole insurance fraud thing only looks stupider as more information comes out.
By the way, given that cleanup costs at the WTC complex alone is costing more than the asbestos removal would cost, and that Silverstein was recently ruled against in the whole two-incident/one-incident thing for insurance purposes,
and given that building the new complex is going to cost far more than the insurance paid out...
...what, precisely, is your point?