Insurance Company Won't Pay Out Boston Marathon Claim, Because Was Bombing Even Terrorism Really?
In case you recently had an experience with an insurance company that was not supernova levels of rage-inducing and are feeling even moderately OK about them, here is a thing to remind you that their main job is to make sure to NOT pay you for losses because that fucks with their bottom line. Refusing to pay claims to a business that sustained massive losses thanks to the Boston Marathon bombing probably isn't the smartest bet, though.
Sir Speedy is asking that Public Service Mutual pay out $940,000 for revenue it lost during the months after the attack. The insurance company, however, said the attack was never certified as an “act of terrorism” by the secretary of treasury, secretary of state and the attorney general, and it does not have to pay.
Sir Speedy, right on Boylston Street, smack dab in the middle of bombing central, was closed for nine days post-bombing, but is owned by people decent enough that they didn't use the business losses to screw over employees.
His building did not suffer any permanent damage, but his bottom line did as his business was closed for nine days.
Business is slowly picking up for [owner Ed] Borash though and he's proud that he did not have to cut any employees after the bombing.
We imagine that he probably WILL need to cut some people if the insurance company continues to stiff him for close to $1 million.
Oh hey, we need to make sure to tell you that the insurance company in question is Public Service Mutual and (1) LOL at "public service" and (2) now you can avoid these dickheads at all costs.
You should also, however, be pissed at the Treasury Department, which has the sole discretion to certify or not certify something as an act of terrorism. And that's not subject to judicial review, suckas! Apparently the treasury has either affirmatively refused to certify this as an act of terrorism or just hasn't gotten around to it yet. Either way, it's a weird bullshit level of difficulty to go through to get your monies back from a policy you've paid into that COVERS TERRORISM.
We are not terrorism experts, so we can't say why this is or isn't terrorism in the eyes of the government generally (it is totally terrorism, for fuck's sake) but the Terrorism Risk Insurance Act was specifically passed to ensure that businesses could buy terrorism insurance that would one day pay monies back to them if terrorism, so the certification for terrorism under that law has got to be a bit looser than this or it is completely goddamn meaningless.
Meanwhile, the poor SOBs at Sir Speedy are going to go fucking bankrupt paying lawyers to fight an insurance company. Have you ever fought an insurance company? They have a veritable army of lawyers -- all of whom work directly for the insurance company and therefore are not racking up hourly bills -- and will string this out forfuckingever. Godspeed and good luck, Sir Speedy. We're on your side for life.