Insurance battle over Twin Towers

Insurance battle over Twin Towers

The leaseholder of the World Trade Center site is fighting his insurers in a New York appeals court over how much money he can claim after the attack of 11 September 2001.



More on the architect behind the Twin Towers' replacement
Larry Silverstein says the two aircraft that hijackers flew into the Twin Towers, killing thousands and flattening the iconic buildings, amount to two separate attacks.

That would give him $7bn (£4.4bn) instead of the $3.5bn which his insurers - led by Swiss Re and Tavelers Property Casualty Corp - say he is due for what they believe constitutes a single attack.

A lower court has already ruled that the insurance policy the two sides agreed before 9/11 is ambiguous and needs to be adjudicated by a jury.
The argument over insurance is complicated by the fact that Mr Silverstein only took over the WTC six weeks before the attack, and the agreement insuring the site had not been finalised.


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Had the WTC for 6 weeks and KaBoom they are gone
:bounce:

They were seperated by time and space. If the one building had fallen into the other, that might have only been 1 attack.

I had always been taught that it was ONE attack, carried out in TWO waves.

He should just be glad the insurance company isn't trying to weasel out of paying him ANYTHING....

there were hundreds of attacks on Pearl Harbour.

never mind that it was one attack orchestrated by a single entity.

It certainly seemed like this was well planned!!!

Robbery in pure daylight!!!

6 weeks only ????????

And the WH avoids investigation........typical!!!!

Seperating the towers is ridiculous. Of course he's going to argue for it, just about anyone would for 3.5 Billion.

I hope the insurance companies get fucked either way, but that's just me.

Ralph Sampson and Akeem Olajuwon

I think some of the language in the policy defined an attack as any and all events happening within 24 hours of the initial incident. Since the policy was never finalized, that is part of what is causing this mess.

Someone said they hope the insurance companies get screwed, but remember, we will be the ones paying for this. They will get their money back with higher premiums to others that will cause the price of things you and I purchase to rise. I say this not to change your opinion but just to make sure that is out there.