Insurers liable for two 9/11 attacksFrom correspondents in New...

Insurers liable for two 9/11 attacks
From correspondents in New York
December 7, 2004

A JURY in New York has ruled that the September 11, 2001, attack on the World Trade Centre was two events, paving the way for developer Larry Silverstein to claim an extra $US1.1 billion ($1.4 billion).

The trade centre was insured for a total of $US3.5 billion with a dozen insurance firms.

Mr Silverstein, 73, took all the carriers to court, claiming that he should receive a double payout on the grounds that the twin towers' destruction by two hijacked planes constituted two attacks.

Tuesday's decision went against nine companies who carried $US1.1 billion of the insurance total. The firms had argued that the two strikes on the trade center were part of a single, continuous, planned attack.

"I am thrilled with today's victory," Mr Silverstein said.

"The decision means an additional billion dollars of insurance proceeds will be available, which, together with Liberty Bonds, will ensure a timely and complete rebuild of the World Trade Centre," he said.

"I strongly