Panic postponed

Article Abstract:

The year 2000 computer adjustment problem has not been as serious as envisaged, and this could be a result of funds spent tackling it, though Russia, southern Europe, and other areas that prepared little have had few problems. Countries relying most on information technology have invested most in tackling the problem, and information has been shared, helping latecomers. There has been some gain from investment in computer systems, but there are also lessons to be learnt about not panicking about technological scares

Editorial, Risk management

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Countries that count

Article Abstract:

The Year 2000 computer transition problem appears to have been taken less seriously in mainland Europe than in the US, though some European countries such as Britain and the Netherlands, and Scandinavia have made progress. Europe also has to adapt to the new euro currency, and this may pose a problem for smaller banks like German savings banks. Meanwhile, Japanese banks are spending less than US banks, and Japan has a number of advantages such continuous employment of programmers. Japan may still be spending too little on the problem.

Japan, Western Europe

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Midnight's children

Article Abstract:

Law firms appear not to have prepared enough for the Year 2000 computer transition problem, though they will be active in deal with cases arising from the problem. There will be arguments over who should be liable when damage occurs due to the problem. Insurers have excluded millennium risk in some cases, but it may be difficult to identify cases where the problem has caused damage. A number of businesses need insurance to operate and some coverage will probably be offered by many insurers.

Insurance, Insurance Carriers and Related Activities, Legal services, Offices of Lawyers, INSURANCE CARRIERS, Insurance industry, Law firms

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