The jury verdict finding that negligence by the agency that owns the World Trade Center led to the 1993 garage-bombing was only a preliminary victory for seven insurers with $21 million in subrogation claims, a lawyer for the carriers said.

Unless there is a settlement, litigation is likely to continue for an "extended period," explained Gerard Belz, an attorney with Cozen O'Connor in Philadelphia.

The 1993 terrorist attack on the Twin Towers pales by comparison with the WTC's ultimate destruction in 2001, but the event was huge at the time, killing six people, injuring more than 400, and forcing thousands to flee down the stairs through choking clouds of black smoke.

Continue Reading for Free

Register and gain access to:

  • 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
NOT FOR REPRINT

© 2024 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.