Volume 36, Issue 12, December 2001
Demand For Glaziers Rises
With the massive amount of glass that made up the World Trade Center towers, as well as the many buildings surrounding it, it is not surprising that the need for glaziers in New York has risen.
James Healy is one glazier who is working to replace glass in some of the buildings near Ground Zero. “Nearly every window in all of these buildings from the ground up to at least the 17th floor shattered,” he said.
Healy is only one of many glaziers that headed to the site to help. “First we came as volunteers,” said Carlo Carriere, business manager for the Glaziers, Architectural, Metal, Glassworkers and Allied Trade Union, Local 1281. “We were digging by hand, helping out as best we could.”
But now the challenge has changed and glaziers are working to restore the buildings near Ground Zero. “Everywhere you see a piece of plywood in a window frame, we have to put in new glass,” said glazier Jason Salcedo. “You look around at everything that’s been destroyed and you feel the pain. We’ve got to make it look normal again. It’s our job to help people feel good about being here.”
Insurance Companies Seek to Exclude Terrorism Coverage
Several insurance companies have started seeking permission from state regulators to exclude terrorism coverage from a variety of policies next year. Some of the companies requesting exclusion from terrorism coverage include Ace and American International Group and Springfield Fire & Casualty. By filing these requests now, the insurers hope to meet deadlines imposed by state regulators for alerting policyholders to major changes in coverage or for cancellation of policies.
Recently, reinsurance companies, which insure primary insurance companies, indicated that they would no longer cover terrorism after January 1, leaving primary insurance companies vulnerable.
In an effort to ease these concerns and prevent the insurance industry from meeting financial ruin in the event of another terrorist attack, the U.S. House of Representatives has passed the Terrorism Risk Protection Act. The Act would commit the government to paying 90 percent of all insurance company claims from future terrorist attacks if the payouts reach $1 billion or more. The companies would eventually have to reimburse the government, but the assistance would last for up to three years.
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