April 30, 2001: In a year when most Y2K-related lawsuits are being dismissed, Visa is filing a claim against its insurance company to recover remediation costs it incurred while rendering its systems Y2K compliant. The policy at issue is an all-risk policy, including coverage for electronic-related property damage. The policy periods at issue include: May 1, 1995, to April 1, 1996; April 1, 1996, to April 1, 1997; April 1, 1997 to April 1, 1998; and April 1, 1998, to April 1, 1999. Visa is seeking a declaratory judgment that its insurer is obligated to pay for these remediation costs under the 'sue and labor' clause of its policy. The claim was filed in San Francisco Superior Court.

2000law

-- Anonymous, July 10, 2002