[IWAR] Y2K insurance through Axa

From: Nick Halflinger (shockwave_riderat_private)
Date: Mon Jan 05 1998 - 17:32:02 PST

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                    Axa offers Y2K bug insurance 
                    By Reuters
                    January 5, 1998, 3:20 p.m. PT 
                    PARIS--French insurer Axa Global Risks, a unit of
                    Axa-UAP, said today it is offering large companies
                    cover for their software exposure to millennium bug
                    The company said in a statement its new product,
                    Dat+net.2001, would offer companies cover for
                    the possible loss of or damage to information or
                    programming as well as the financial consequences
                    of doing business in a crisis period. 
                    "Companies which have made the necessary
                    adaptations to their systems for the passage to the
                    year 2000 can also benefit from the guarantees of
                    the Dat+net.2001 insurance, including cases of
                    nonfunctioning programs or changed information," it
                    The cost of coverage would range widely case by
                    case, from $329,000, a company spokesman said. 
                    Concerns about widespread disruption at the turn
                    of the century stem from the design of most
                    computers and programs, which read only the last
                    two digits in a date and risk seeing January 1, 2000
                    as January 1, 1900.
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