ARMA sues insurer over 9/11 losses.On May 22 ARMA International filed suit against Chicago Chicago, city, United States Chicago (shĭkä`gō, shĭkô`gō), city (1990 pop. 2,783,726), seat of Cook co., NE Ill., on Lake Michigan; inc. 1837. Insurance Co. for breach of contract. The suit was filed following the insurance company's failure to honor As a verb, to accept a bill of exchange, or to pay a note, check, or accepted bill, at maturity. To pay or to accept and pay, or, where a credit so engages, to purchase or discount a draft complying with the terms of the draft. the convention disruption disruption /dis·rup·tion/ (dis-rup´shun) a morphologic defect resulting from the extrinsic breakdown of, or interference with, a developmental process. policy provisions covering losses in revenue the association experienced as a result of the terrorist attacks on September 11, 2001. In the two weeks immediately following the attacks, ARMA received an unprecedented number of registration cancellations--about 25 percent of the total registrants--for its annual conference and expo, which was being held in Montreal, Quebec, September 30-October 3. ARMA experienced severe financial losses of more than $250,000 as a result. ARMA provided the necessary notification and documentation as required by the policy. However, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the filing, "Without justification or excuse, and in breach of the terms of the Policy, Chicago Insurance has failed to provide indemnity Recompense for loss, damage, or injuries; restitution or reimbursement. An indemnity contract arises when one individual takes on the obligation to pay for any loss or damage that has been or might be incurred by another individual. by paying ARMA for its covered losses." The suit was filed in the U.S. District Court for Kansas. |
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