A recent court ruling deemed the World Trade Center attacks to be a single event for insurance purposes, which is good news for insurers on the heels of some bad news: an earlier ruling allowing lawsuits to proceed against the …
Standard & Poor’s has issued a bulletin commenting on the recent ruling in favor of Swiss Re and other insurance companies in the case involving claims to be paid for the destruction of the World Trade Center (See IJ Website …
John M. Walker, Jr., Chief Judge of the U.S. Court of Appeals for the Second Circuit, has issued a ruling denying Silverstein Properties’ motion for summary judgment in its battle with Swiss Re, Travelers and other insurers over the amount …
The National Association of Insurance Commissioners (NAIC) released its proposed budget for the year 2004 during its Fall National Meeting and announced a public hearing to discuss the budget via a conference call scheduled for Nov. 3. “This budget package …
Australia’s Westfield Holdings, one of the largest property leasing companies in the U.S., is reportedly in talks with the Port Authority of New York and New Jersey to sell its interest in the World Trade Center lease. According to an …
More than 150 children of Aon employees who perished on Sept. 11, 2001, will persevere in their educational endeavors thanks to the continuing support of the Aon Memorial Education Fund. Established by Aon Corporation on Sept. 14, the fund ensures …
A.M. Best’s report, “Global Reinsurance,” focuses on the pressures affecting the financial strength of the industry, and discusses the factors that it sees driving market conditions. The report cited the following: –Reductions in capital following losses on equity portfolios, adverse …
Deutsche Bank (DB) has filed suit against Allianz and AXA over a claim for damages to its building at 130 Liberty Street in New York City caused by the collapse of the World Trade Center towers. The suit claims that …
GMAC Commercial Mortgage Co., a financing unit of General Motors Corp., has filed a lawsuit over claims that World Trade Center master leaseholder Silverstein Properties and the site’s owner, the Port Authority of New York and New Jersey, have not …
New York’s Superintendent of Insurance, Gregory V. Serio, announced the arrests of Dorothy Johnson and Twila McKee, both of Milwaukee, Wisconsin, on charges of insurance fraud and attempted theft by fraud for submitting fraudulent claims to two life insurance companies …
