Several new fronts have opened in the ongoing battle over World Trade Center coverage. On Dec. 28, 2001, Silverstein Properties (SP), the master leaseholder, filed a lawsuit against Travelers to recover the losses it insured for both towers. A week …
Several new fronts have opened in the ongoing battle over World Trade Center coverage. On Dec. 28, 2001, Silverstein Properties (SP), the master leaseholder, filed a lawsuit against Travelers to recover the losses it insured for both towers. A week …
Senator Hillary Rodham Clinton (D-NY) called for changes in the proposed rules governing the Victims Compensation Fund established by the federal government to help victims and families affected by the terrorist attacks of Sept. 11. By adding her influence to …
Rodger S. Lawson, Ph.D., president of the Alliance of American Insurers, released the following statement questioning the logic of the decision by the California and New York insurance departments to deny the ISO commercial lines policy exclusion and urging them …
According to a Reuters report, World Trade Center leaseholder Larry Silverstein is expected to file a motion in a Manhattan Court on Jan. 17, to seek a ruling that the Sept. 11 attacks were two separate strikes. The ruling would …
Standard & Poor’s has affirmed its single-‘A’-plus counterparty credit and financial strength ratings on IPCRe Ltd. and revised its outlook on the Bermuda-based reinsurer to “stable” from “negative”. S&P also affirmed its single-‘A’-plus financial strength rating on IPCRe Europe Ltd., …
Germany’s Allianz AG has elected to become part of the World Trade Center dispute by joining Swiss Re and Chubb Corp. in seeking to have the destruction of the twin towers declared “one occurrence,” rather than two. As detailed in …
World Trade Center leaseholder Larry Silverstein is pursuing the legal battle regarding property claims resulting from the Sept. 11 terrorist attack on the twin towers. World Trade Center Properties LLC, an affiliate of Silverstein Properties Inc., filed suit against Travelers …
Silverstein Properties, the master leaseholder on the destroyed World Trade Center, has opened a new front in its ongoing battle with its insurers to recover for the loss on both of the twin towers by seeking court approval to bring …
The U.S. property/casualty industry registered a $3.1 billion net loss following taxes through nine-months 2001– its first-ever net loss following taxes through nine months. Reflecting the net loss and unrealized capital losses on investments, the industry’s surplus fell $35.5 billion, …
