1:00:04
Correct.
1:00:05
Would you explain to the court the purpose behind
the 'Act of God' clause in insurance policies?
1:00:10
The purpose is to protect
the vast majority of policyholders
1:00:15
against occasional calamities
that may befall the few.
1:00:20
- Does it mean that God caused the event?
- Heavens, no. Although he may have for all we know.
1:00:26
- It's a figure of speech.
- Like 'out on a limb'?
1:00:30
Or 'away with the fairies'.
1:00:36
- It's not to be taken literally?
- Absolutely not.
1:00:44
Consumatum est.
1:00:48
- Thank you, Mr. Piggott.
- Why don't we call things by their real name?
1:00:52
An act of storm, an act of weather,
an act of lightning.
1:00:56
The names of the things that have
ruined the lives of my co-plaintiffs.
1:01:00
Because it's customary
to call them 'Acts of God'
1:01:03
Would that be because 'God' has a certain ring to it?
There's a certain moral authority
1:01:07
- that exists only in the name of God?
- No.
1:01:11
He's knocked off your copyright,
haven't you, Mr. Piggot?
1:01:18
Would you say that the sinking
of the Titanic was an 'Act of God'?
1:01:23
I beg your pardon?
That was before my time.
1:01:26
It was a ship. It struck an iceberg, and...
perhaps you saw the film?
1:01:30
Yes, that's right. The orchestra played
that lovely little tune as they went down...
1:01:35
- I don't think it was one of ours.
- It was deemed an 'Act of God'.
1:01:39
I'm not surprised. An unassessible risk, an iceberg.
Who would have thought?
1:01:44
- And yet the insurance companies paid out.
- Did they?
1:01:48
Yes, they did. In order to avoid the
bad publicity. Now there's a funny thing.
1:01:55
One last thing. Last year your
company declared profits of $6,2 billion.