A federal judge who ruled that the New York-New Jersey Port Authority cannot collect insurance for all the damage done to the World Trade Center by the 9/11 attack, will meet with lawyers in the case in April to determine the next steps in the case.
Monday, in a ruling that favored 10 insurers, U.S. District Court Judge Barbara S. Jones in Manhattan ruled that the PA can only collect insurance only for damage done to Building 6 at World Trade Center and the PATH train station, not for the entire complex.
Judge Jones ruled in favor of insurers, who contended that the PA's insurance policies excluded the rest of the World Trade Center complex because the agency had leased it on July 24, 2001, to developer Larry Silverstein, who bought his own insurance.
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