Saturday, September 22, 2001

Insurers of World Trade Center won’t use war exclusion

The website reported recently that insurers of the World Trade Center and other parties affected by the attack against key landmarks of the United States will not use the war exclusions in the insurance contracts covering the towers and other affected entities and individuals. The National Assn. of Independent Insurers said in a written statement that “NAII wishes to confirm that insurers have strongly indicated that they do not intend to invoke the ‘act of war’ exclusion. This is a non-issue, and all insurers we have heard from are treating the losses as covered claims.” It may be recalled that on September 11, 2001, a group of terrorists hijacked two commercial planes and rammed them against the twin towers of the World Trade Center. The towers eventually collapsed. More than 6,000 are believed to have perished from the incident.

The complete text of the story is found here.

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