Silverstein prevails in second World Trade Center coverage trial: all nine insurers found liable for two 9/11 occurrences.(The Verdict Is In)

National Underwriter Property & Casualty-Risk & Benefits Management, December, 2004 by Ha, Michael

THE SECOND TRIAL TURNED OUT TO be the charm for Larry Silverstein, leaseholder of the destroyed World Trade Center. After more than three weeks of deliberations, the jury in the second round of WTC insurance litigation ruled last week that the Sept. 11, 2001 terrorist attack constituted two occurrences for the Twin Towers' nine remaining property insurers.

The nine carriers in this phase of the trial argued that the 9/11 attack that killed over 2,600 was a coordinated terrorist effort resulting in a single compensable event, but Mr. Silverstein prevailed in his contention that there were two separate attacks at two distinct times against two different WTC towers which fell independently. Allianz, Gulf, Industrial Risk Insurers, Royal Specialty, TIG, Tokio...

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