WTC jury hangs on
The jury in the World Trade Centre (WTC) insurance case is still out, and that should be worrying some insurers. They are deliberating on whether any insurers in the consortium to insure the WTC complex – felled in terrorist attacks on September 11 2001 – should be forced to pay twice the amount they believe they should to WTC leaseholder Larry Silverstein.
They took Friday off after deliberating for four days. Mr Silverstein argues that the towers were destroyed by two separate attacks, and that the insurers had agreed to a proposal form that allowed him to claim twice.
Legal observers say the delay means the jury won’t be coming back with a cut-and-dried verdict, which gives Mr Silverstein hope. It is increasingly possible that some insurers will be found to have agreed to a Traveler’s Insurance proposal that didn’t define “event”, unlike the Willis-provided form the insurers insist they were bound under, which defined the attacks as one event.
There will be more trials after this one to determine just how much each of the unlucky insurers owes. We’ll keep you informed on progress.