
So what's the catch? Did they get "Enlightened" overnight? I don't think so. Its a simple logic of not entering a skirmish when you know that you won't win and would damage your image in the process, something similar to what Indira Gandhi did not realize during the 1970s.
If the case goes to the court for coverage of all losses, then the chances are that the case will be ruled in favour of the hotels. What might cause more damage for the insurance companies is that they may lose pubic confidence if they deny the coverage, especially when the Mumbai attacks have become a sensitive issue for the entire nation.
I am sure that the Insurance Companies are not happy to pay, especially when we are looking at a figure between Rs 750 - Rs 1300 crores. Ouch!!!!!! That's gotta hurt....
Posted by Rahul Gosain
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