Insurers Win Ruling in WTC Lawsuit

Swiss Reinsurance Co. and 19 other insurers being sued by World Trade Center developer Larry Silverstein may use at trial a court ruling that the Sept. 11, 2001, terrorist attacks on the building complex were one occurrence, a judge ruled.

Silverstein is suing the insurance companies, alleging that the two planes that hit the two towers constituted two attacks, and thus warrant two insurance payments of $3.55 billion each under the terms of his policies.

The introduction of the Sept. 26 ruling by a federal appeals court in New York might help the insurance firms better defend themselves against Silverstein’s suit.

From Bloomberg News