New York regulator seeks data from insurers in 9/11 case

Associated Press

ALBANY, N.Y. –  New York’s top insurance regulator has directed insurers to detail payouts and reserves for claims in the 2001 World Trade Center attacks in an effort to prompt settlement of the decade-old federal case.

Benjamin Lawsky, superintendent of the Department of Financial Services, says in a letter that ongoing claims against the two airlines and security companies, following the terrorist attack on the twin towers in Manhattan, has slowed redevelopment and “undermined public confidence in the insurance industry.”

Developer Larry Silverstein has complained to the department about gridlock in settlement negotiations.

Federal law limited the insurers’ liability and created a special fund that paid victim claims. Remaining insurer liability is estimated at about $2 billion.

Lawsky also seeks the insurers’ investment return rates since 2002 and their itemized bailout benefits.

This entry was posted in General. Bookmark the permalink.
  • One World Observatory

    Learn more about the One World Observatory complimentary ticket program.

  • Categories

  • From the Newsletter

  • Upcoming Events

    1. FDNY Cook-Off for Cancer

      February 20 @ 9:00 am - 1:00 pm
    2. Discussion: Managing the Legal and Financial Issues of Cancer

      February 20 @ 6:00 pm - 7:00 pm
    3. Funeral for MaryAlyce “Molly” Berkowitz, Neptune City First Aid Squad, and Shark River Hills First Aid Squad

      February 21 @ 9:30 am - 11:30 am
    4. Discussion: Is radiation therapy the right treatment option for my prostate cancer?

      February 22 @ 5:30 pm - 6:30 pm
    5. Lords of 52nd Street, Legends of Billy Joel concert to benefit the Ray Pfeifer Foundation

      February 23 @ 8:00 pm - 10:00 pm