SILVERSTEIN EXTENDS WTC DISPUTE TO OTHER INSURERS

World Trade Center (WTC) leaseholder Larry Silverstein has widened his dispute relating to the September 11 attacks on the WTC to embrace nearly all of the 22 insurers that underwrote the policy on the two towers. Silverstein Properties is now suing Travelers as well as Swiss Re and has asked a court hearing for permission to add to the litigation all of the remaining insurers of the towers except ACE and XL, which are domiciled in Bermuda. Silverstein Properties said that it was still in talks with ACE and XL, but that negotiations with Swiss Re had broken down. The dispute relates to whether the attacks should be interpreted as one insurable incident, which would cap insurers’ losses at $3.56bn, or as two separate attacks, which would double the liability.