If we declare war tomorrow, does that exclusion apply to today's destruction? IDK. If not, then some insurance companies are likely to go belly up by the end of the month. Something to think about when the markets open again.
This is why amateurs never make any money in the stock market. People are going to be running around in a panic, dumping their insurance company stocks, while professional traders will be buying them at extremely low prices.
Three days later, some moron who just dumped all his insurance stocks is going to do a little research.
"Wait a minute!" he'll say, "I just found out that the Port Authority of New York & New Jersey doesn't carry any insurance!" -- (the agency is so large that it has the financial means and bonding capability to cover its losses in the event of a catastrophe)
Then that same person is going to sit around and whine that "the government isn't doing enough for the economy."
As they say on Wall Street, SOME PEOPLE ARE BORN TO BE CUSTOMERS.