Two insurers have agreed to pave the way for payment to the Port Authority of New York & New Jersey totaling $317 million in claims stemming from the attacks on the World Trade Center.
Travelers Indemnity Co. owes $187 million, while Gulf Insurance Co. owes $130 million for claims based on the Sept. 11, 2001 terrorist destruction of the site. Both companies are now part of the St. Paul Travelers merged operation.
Earlier this year, the original claimant, WTC leaseholder Larry Silverstein, transferred his rights to the Port Authority to develop the first building set for construction, the Freedom Tower.
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