Business Services Industry
United seeks cover for revenues lost in wake of 9/11.(News)
Business Insurance, July, 2003
Byline: DOUGLAS McLEOD NEW YORK-United Airlines Inc. is suing an American International Group Inc. unit to recover earnings lost after the Sept. 11, 2001, terrorist attacks under a $25 million property terrorism and sabotage policy. The suit, filed in U.S. District Court in New York, names AIG's Insurance Co.
of the State of Pennsylvania subsidiary, charging that the insurer has wrongly disputed liability under the policy, which includes business interruption coverage. An AIG spokesman declined to comment on the complaint. United's action follows a suit filed earlier this year by American Airlines Inc. against its hull war risk insurers to recover Sept. 11-related costs. That dispute will now be arbitrated, though, following a federal judge's order last...
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