WTC Loss Lower Than Expected

The final insured loss from the terrorist destruction of the World Trade Center will be nearly $8 billion less than the $40.2 billion projected several years ago, according to the Insurance Information Institute.

Robert Hartwig, executive vice president and chief economist at the New York-based industry association, said his latest analysis would put the loss figure at $32.5 billion. He said that one factor reducing the amount was payments from the federal Victim Compensation Fund.

He said the Sept. 11, 2001 catastrophe resulted in about 60,000 claims of every sort, including life. Of those, he said, the number of claims still in dispute would amount to a fraction of 1 percent.

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