Was WTC Loss Just One Occurrence?
The $3.5 billion question concerning Sept. 11 is whether the terrorist attack (or was it attacks?) that destroyed New York's World Trade Center should be considered one occurrence or two for insurance coverage purposes. A federal judge has decided to allow a jury trial to decide the issue, but whatever the outcome, an appeal could keep the debate alive for years to come.
It is tempting to sit by silently and let the courts handle the one occurrence versus two argument. But since this is an insurance issue as well as a legal one, it is appropriate for those in the insurance industry to voice an opinion.
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