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Author: mungofitch Big gold star, 5000 posts Top Favorite Fools Top Recommended Fools Feste Award Winner! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 212015  
Subject: Re: More Sandy Controversy... Date: 11/19/2012 4:54 PM
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I hear you.
Either something is covered, or it's not.

Sure, there will always be a few fuzzy decisions of interpretation, but that's not the issue here.
An insurer can deal with borderline cases statistically, based on the notion that over
the long run only a small number of cases will fall right on the line and it averages out.
That's how I look a the current "is it a hurricane?" problem—no big
deal on average in the long run, because almost always it either is or isn't
so the truly borderline cases are a minority that can be ignored.

But if your contract says you aren't covered in specific circumstances, you aren't covered.
http://boards.fool.com/this-is-absolutely-ridiculous-the-bes...
The best lesson I ever learned from my lovely wife about business is to
always start any discussion of appropriateness with the question:
"What does the contract say?"
These words should be etched into the wall above your desk (more useful than "Think")
...
The time to complain is when the contract is being negotiated, not when it is being executed.
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