Insurers Win One, Lose One In WTC Trials Maximum insured loss would be $4.7 billion, but appeals possible in second case
They are likely to be remembered as the trials of the decade for property insurersa pair of dramatic court battles over whether the Sept. 11, 2001 destruction of the World Trade Center by terrorists, killing over 2,600 people, was one event for insurance purposes or two distinct losses, thus doubling an insurers potential exposure.
At stake were billions of dollars in insurance coverage that WTC leaseholder Larry Silverstein was counting on to help finance the controversial rebuilding project at Ground Zero.
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