Zurich Loses WTC Ruling
A federal appeals court has ruled that a janitorial firm's $100 million claim for business losses from the destruction of the World Trade Center on Sept. 11, 2001 can proceed against the Zurich American Insurance Company.
The decision by the 2nd U.S. Circuit Court of Appeals came in a case brought by ABM Industries Inc., which performed engineering and janitorial services at the Twin Towers. It sends the case back to the courtroom of U.S. District Court Judge Jed Rakoff in Manhattan, who had issued a summary judgment capping ABM's ability to recover under a policy sublimit for contingent time element at $10 million.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
