One year after the terrorist attacks in New York, Virginia and Pennsylvania, the Insurance Information Institute estimates that the total insurance loss from Sept. 11 will ultimately be about $40.2 billion. “9/11 is not only the biggest insured catastrophe ever, …
The terrorist attacks of Sept. 11, 2001, will go down in history as the property/casualty insurance industry’s largest single loss event, with the net-loss estimates posted by insurance entities standing at about $30 billion. However, the ultimate payout will take …
Aon Corporation announced the completion of negotiations to secure new permanent office facilities in New York City. On Aug. 28, 2002 Aon reached an agreement with Resnick Seaport, LLC of New York to lease approximately 165,000 square feet of space …
Despite recent court ordered settlement procedures, the legal dispute pitting Swiss Re and 21 other insurance companies against Silverstein Properties, the master leaseholder on the twin towers of the World Trade Center, seems destined to go to trial. The litigation …
In this issue, we pause for a moment and try to grasp the meaning and impact of ‘9/11’ on the insurance industry. It’s difficult to find words to describe the tragedy of Sept. 11th, 2001 and its effect on the …
A.M. Best Co. has affirmed the financial strength rating of “A” (Excellent) of the insurance subsidiaries of OneBeacon Insurance Group, Boston. A.M. Best also affirmed the indicative shelf registration ratings for Fund American Companies Inc. These affirmations follow the completion …
It was a beautiful fall morning. I had been running late, and then had gotten lost in the rolling hills of Northern New Jersey on the way to a meeting, but the cool breeze brushed away my concerns. The meeting …
It was a beautiful fall morning. I had been running late that morning and then had gotten lost in the rolling hills of Northern New Jersey on the way to a meeting, but the cool breeze brushed away my concern …
When the nation awoke on the morning of Tuesday, Sept. 11, little did it know that the events over the next few hours would change its lives forever. Not only were there thousands of lives lost and injured, but many …
As the classic television crime show used to remind us, “There are 8 million stories in the Naked City.” There were more on Sept. 11, 2001. Here are just a few, one from each of the three World Trade Center …
