Financial Services Industry
Industry: Email Alert RSS FeedTravelers contradicts WTC broker testimony.(Trial Nearly Over)(Travelers Property Casualty Corp.)
National Underwriter Property & Casualty-Risk & Benefits Management, April, 2004 by Ha, Michael
DIRECTLY CONTRADICTING THE brokers in the World Trade Center coverage dispute, a Travelers Property Casualty underwriter testified last week that he never actually insisted other carriers switch to his company's form, nor was he told that Travelers was considered the "lead insurer" during the binder period before the Sept.
11, 2001 event. Willis Group Holdings brokers working on behalf of WTC leaseholder Larry Silverstein have been maintaining for weeks that they were pressured by Travelers to apply the carrier's insurance form to the entire coverage program. However, James Coyle, the underwriter in charge of the WTC account at Travelers, contested that claim during cross-examination by Barry Ostrager, the lead attorney for Swiss Reinsurance. "You never...
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