Has the 9/11 insurance claim been paid? how much? When?

Question

For Life & For Property???

Answer 1

May 23, 2007

STATE ACHIEVES $2 BILLION SETTLEMENT OF OUTSTANDING WORLD TRADE CENTER INSURANCE CLAIMS

Governor Eliot Spitzer and State Insurance Superintendent Eric R. Dinallo announced today that Silverstein Properties and seven insurance companies have reached a $2 billion settlement of all outstanding insurance claims arising from the destruction of the World Trade Center. The agreement, the largest in regulatory history, ends almost six years of legal battling and removes the last major obstacle to development at Ground Zero.

The insurance companies involved in today’s settlement are:

Travelers Companies, Inc.

Zurich American Insurance Company

Swiss Reinsurance Company

Employers Insurance Company of Wausau

Allianz Global Risks US Insurance Company

Industrial Risk Insurers (now owned by Swiss Reinsurance Company)

Royal Indemnity Company

As part of the agreement, Silverstein Properties and the insurance companies have signed confidentiality agreements requiring that specific amounts paid by each company will not be disclosed. The total for all seven companies is $2 billion. These agreements settle all outstanding court cases and related proceedings.