STORY FROM: Reinsurance & Arbitration
Judge Awards Insurers $5.28 Million in Damages Arising from Sept. 11 Attacks
July 10, 2018
NEW YORK — A New York federal judge has awarded $5.28 million to six insurers for damages arising from the Sept. 11, 2001, terrorist attacks, ruling that they are entitled to amounts they paid under their reinsurance contracts.
In a June 25 order, Judge George B. Daniels of the U.S. District Court for the Southern District of New York further found the insurers are entitled to prejudgment interest calculated from Sept. 11, 2001.
“Plaintiffs are awarded damages of $527,598,884.69 in addition to prejudgment interest accruing from Sept. 11, 2001, to the date judgment is entered,” the judge ruled. “To the ...