Carriers' decision to end six years of litigation and rancor and settle claims by the developer of the World Trade Center is a positive move for insurers, removing a major thorn in the industry's side, industry experts said.

Seven carriers agreed Wednesday to pay $2 billion to settle outstanding claims over the World Trade Center attack of 9-11 after New York State officials stepped in to mediate an agreement.

“I think that all the parities are happy to put this behind them,” said Robert P. Hartwig, president and chief economist for New York-based Insurance Information Institute. “Obviously, the cost and uncertainty associated with litigation works to nobody's benefit.”

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