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Insurers resist $2.1bn WTC demand

Ten Lloyd’s syndicates, together with insurance companies, sued the Port Authority of New York and New Jersey last week over its claims that it is still owned $2.1bn from the WTC attacks.

The Port Authority, which has already received around $950mn from its insurers for damage caused by WTC property not part of the Silverstein Inc leasehold, is thought to be claiming as much as $3bn from its insurers following a claim made in March of this year.

“They are looking for additional money for property covered under another policy,” said Robert Skinner, an attorney with Ropes & Gray representing the insurers, according to Reuters.

The insurers include Axa Global Risks Ltd, Copenhagen Re, Munich Re’s Great Lakes Reinsurance (UK) Ltd, Houston Casualty, QBE, Sirius International, Wurttembergische Versicherung AG and Zurich Specialties London Ltd.

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