Two WTC Insurers Last Holdouts
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
Two insurers that owe more than $800 million in payments to the World Trade Center site developer will slow rebuilding if they don’t settle a lawsuit over how to divide the money, politicians and developers said Thursday.
The companies, Allianz Insurance Co. and Royal Indemnity Co., are the only insurers that haven’t agreed to divide their payments between site developer Larry Silverstein and the site’s owner, the Port Authority of New York and New Jersey, officials testified at a City Council hearing.
