WTC Trial Jury Still Out
By Michael Ha
NU Online News Service, Nov. 24, 2:37 p.m. EST? The jury hearing the latest round of the World Trade Center insurance dispute wrapped up its second week of deliberations without a verdict today.[@@]
Discussions by the jury of 10 women and two men will resume next week. "Have a nice Thanksgiving. Hope to see you back relaxed and refreshed next Tuesday," Manhattan Federal Judge Michael Mukasey told the jurors.
The jury must decide whether the terrorist attack on the Twin Towers on Sept. 11, 2001 constitutes one or two insured occurrences. The nine insurers in this round of trial argue that the event is a single insured occurrence, while Trade Center leaseholder Larry Silverstein attorneys argue that the terrorists' destruction of the Twin Towers constitutes two distinct insured occurrences.
In this round, The nine insurers?Allianz, Gulf, Industrial Risk Insurers, Royal Specialty, TIG, Travelers, Tokio Fire and Marine, Twin City, and Zurich American?provided about $1.132 billion of the $3.55 billion in total per-occurrence WTC property coverage. Thirteen insurers were involved in an earlier trial.
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