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YEAR 2000 COVERAGE NOW AVAILABLE
NEW YORK-Insurance to protect companies against damage due to the so-called "Year 2000" computer crisis is available from the Minet Group and AIG Global Risks.
The Millennium Insurance Policy, with limits of up to $100 million, protects against disrupted business or third-party lawsuits relating to computer system failure.
Computer experts warn that many companies' computers are vulnerable to serious or total disruptions as the year 2000 approaches. Without reprogramming, many computers cannot distinguish the year 2000 from the year 1900. That could create mistakes in everything from customer bills to insurance to bank accounts.
The policy covers business interruption, contingent business interruption and third-party liability such as directors and officers and errors and omissions.
The policy term is from inception until Jan. 1, 2001, covering any losses occurring in the policy period. There will be a pre-underwriting audit by data experts, and premiums will be set according to risk.
For information, contact Wendy Baker at Minet Inc., 212-782-6000.
Spare parts service
SPARE PARTS SERVICE
PHILADELPHIA-A new service that locates spare parts for large industrial machinery that has failed or been damaged is available to customers of CIGNA International.
CIGNA International Technical Lines' parts locating service uses a database to keep track of spare parts at original equipment manufacturers, parts suppliers, distributors and plants operated by other CIGNA customers.
The service may be especially valuable for large machinery, such as boilers, turbines and compressors, when spare parts are difficult to obtain and down time may be very costly to a company.
Data is updated continuously and uses a computerized search engine.
The service is free to CIGNA customers. For information, contact Bill Tichansky, assistant vp, 215-761-6665.
HERNDON, Va.-Complete listings of accredited appraisers for every specialty can be found in a new directory published by the American Society of Appraisers.
The directory, with more than 3,100 society-credentialed appraisers listed, includes such specialties as machinery; antiques and collectibles; gems and jewelry; and technical specialties such as cost surveys.
Appraisers must have two years of full-time experience to be listed as accredited members or five years of full-time experience to be accredited senior appraisers.
The directory may be purchased for $12. Contact ASA Publication Sales, 800-272-8258.